Unless you’re in the manufacturing business, supply chain was not always a term used by everyone on a daily, practical sense. But due to the realities created by the pandemic since 2020, supply chain issues became apparent, becoming one of the forefront reasons behind inflation, among other things.
Almost everyone now understands the massive importance of supply chain shortages and delays and what they meant for their respective homes and businesses. You don’t have to be a business owner to recognize how supply chain plays a massive role in our everyday lives. For example, when there’s a shortage of a very basic commodity such as toilet paper, noodles, and canned goods at every grocery store where they’re typically abundant, that’s a likely indicator of supply chain issues. A mismatch between supply and demand is likely the root cause.
There are numerous reasons for this crisis defined by several shortages and delays. It was brought mainly by the pandemic and of other contributing factors resulting from the lockdowns and people’s limited mobility. At the height of the crisis, global supply chain was disrupted by workforce shortages, importation delays, short-staffed freight companies, and overall, people experienced an overwhelmed system around the globe as a result of this. Unprecedented meant no one was prepared enough to respond to the sudden spike in demand for products across several industries. People were now buying their goods online but with this heightened demand for goods, supply was subsequently met with a variety of limiting factors.
Now that we’ve identified the several causes of the supply chain issues faced by nearly all companies around the globe, it’s more efficient for businesses to come to terms with these realities and come up with a game plan to address supply chain bottlenecks.
3 Ways to Navigate the Supply Chain Crisis in Your Own Business
1. Define the Source of Bottlenecks
If you’re a business relying on several suppliers to continue operations, you’re likely affected by this supply chain problem. The good news is that every business is unique, and so is its supply chain. By clarifying your product flow or how you’re operating as a business, you’re easily able to identify the various possible sources of these issues. It’s easier to address a problem when we’ve determined its causes, leading us to understand how to resolve them proactively. It’s even better to centralize your supply chain data (if it’s that intricate), so you get a holistic view of what’s going on overall and be able to respond quickly.
Supply chain traceability enables you to track your products from their main source to consumers. So as a brand and business owner, this gives you extra confidence and a glimpse of how dealers in your chain react and perform. This mechanism is enabled with Packtica’s CheckNow platform. Packtica offers smart solutions that enable tracing distribution chains and tracking their locations and mobility of your items. Access and utilize data within the palm of your hand to deliver smarter solutions that will necessarily address these bottlenecks.
2. Outsource to Reliable Local Suppliers
If you’re thrown into a chaotic supply chain loop due to factors that are beyond your control, it makes sense to be proactive and decide to go for a change. This change could mean deciding to go for local suppliers instead of offshore ones and minimizing the delays and turnaround times involved in keeping your operations smooth.
As a business, you often need the cooperation of reliable contractors and partners to maintain smooth operations within your business. It makes sense to find local ones to partner with as that not only lessens waiting time but also the shipping costs involved in the delivery of items. Not only will you be creating more efficiency in your business operations, but you will also be supporting local livelihood when you do this.
Packtica provides high-technology solutions to various industries ranging from retail, manufacturing, even education, and government bodies that include data collection methods, product QR code monitoring, geolocation system, and online QR code capture system. These help support efficient and systematic business operations. From security labels to online QR code authentication platforms, these are expertise that Packtica proudly delivers to the market as one of the biggest security printing companies in the local scene (Philippines), as well as the ASEAN region.
3. Build a New Game Plan and Implement It
Business owners understand the need to adapt to the ever-changing market. With great changes, come great costs. But now that we’re no longer in denial after having identified a crisis in the supply chain, it’s better to come up with new, well-thought strategies that can address these issues within our operations. Doing so can make these changes work for our business more efficiently.
Just substituting old suppliers with new ones may not be enough strategy for adapting to changes. Effective supply chain management involves a seamless blend of multiple factors ranging from competence, smooth IT infrastructure, and a vast network of resources, among other things. You may not have to figure all these by yourself if you have the right partners in business.
Engage with reliable third-party providers of products and services that will make business fulfillment easier for you. The key is to create solutions that will impact your supply chain positively, most especially in the long term.
