The Nightmare Before Christmas: How to Prepare For Global Supply Chain Issues This Holiday SeasonBy: Pasquale Gatti | October 1st, 2020
You may have heard that experts are predicting a dramatic increase in e-commerce sales this holiday season due to COVID-19. As a result, global supply chain issues are expected, supply chains may be pushed 5% over capacity. Yes…5%!
So what does this mean for your business? For one, it puts a premium on preparation to ensure your supply chain is ready to handle the rush. You need to have the tools and processes in place that allow you to react quickly and catch problems before they occur.
Efficient planning, accurate inventory monitoring, and full order lifecycle visibility are essential now more than ever to successfully meet consumer demands and retain a high level of satisfaction with trading partners.
Here are some ways you can make your supply chain “holiday-proof” and survive the season without setting back your entire business:
- Confirm. Make sure you’re comparing invoices against purchase orders, shipment documentation, and receipts to identify quantity and price discrepancies and have a plan in place to correct any errors.
- Consolidate. Move data that’s scattered throughout multiple systems and make it accessible for all users, in all departments via a centralized platform so everyone in your organization is working from a ‘single version of the truth.’
- Collaborate. Ensure you’re constantly communicating with trading partners and your internal teams so you can solve problems together before they become larger issues and set your supply chain back.
And if you’re a supplier or distributor, check out our recent blog post on how to reduce fines and chargebacks from retailers.
At CoEnterprise, we’re experts in supply chain efficiency. Schedule a free consultation today to learn how we can help you and your business avoid a nightmarish holiday season. Click here to get started.
Interested in what our experts have to say?
Register for our webinar on October 28th where we will be discussing supply chain management pre-holiday season.
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