For all those associated with the retail industry, the Holiday season begins with Halloween and lasts till the first week of New Year. It is arguably a very busy time for businesses particularly for retailers as the shoppers stock on everything and retailers must remain on top of their game to stay afloat.
This year’s Holiday season in particular is going to be more challenging for retailers. The supply chains have not yet fully covered from the pandemic disruptions and the festive season is upon us already. If you are a retailer that sources products from overseas, it is wise to build a supply plan for the holiday season. At BlinkGlobal, we provide international sourcing services to retailers across the United States. In this article, our experts share some valuable tips to prepare your supply chain for the holiday season.
Diversify Your Supplier Base:
This is also a lesson that we all have learned from the COVID disruptions. It seems that the dependency on a single country or one particular to fulfill the needs for raw materials or finalized products is a mistake that businesses must avoid. During the shopping season, many of the suppliers in Asian countries have a lot of orders and they exploit they even charge more than usual. Ahead of the holiday season, spot new vendors and create alternative supply continuity sources. Secondary suppliers will not only ensure resilience in your supply chain network but it will also help you avoid the situational manipulation done by suppliers.
Partner Up With the Reliable 3rd Party Logistics Company
It is wise to partner up with a logistics company. Reliable 3PL provides you with real-time counts and being informed about your resources is the key. It helps you track your inventory and sales in real-time and spot potential lapses and leakages. This can also help you prepare for the extended holiday season and predict if your current stock is optimized for holiday sales. With the help of the right and professional consultancy, you’ll be able to source and deliver the right quantity of products that can easily cater to your customer base.
Plan Ahead – Prepare for the Unexpected Delays:
Delivery delays during the holiday season are a common thing. Shipment delays during the holiday season can pose some of the most serious constraints to business operations. Solutions include advanced planning and not relying on the vendor-provided ETA but calculating the expected delivery time yourself. Calculate the probable transit time considering the possible delay factors such as weather conditions, holidays in various parts of the world and then make a plan based on the evaluated factors. Experts suggest adding at least one week to the expected transit time as a provision to the unexpected delays.
Blink Global – Your International Sourcing Partner
It’s wise to partner up with a reliable sourcing company as they have import and export agents that have expertise in cost reduction and quality assurance. With our deep understanding of global sourcing, we supply B2B industrial and consumer products with centralized procurement and high delivery precision. We are ready to help you make the right decision with our Price Audit Services.