Supply Chain Changes
With the rising demand of products and equipment’s, such that their cost and demand for most products are over two times that of their cost last year, people are starting to buy around the lead times. With the new COVID-19 variants and possible travel and supply chain issues coming up more and more companies and people are looking into buying products at never before seen times and prices.
As we move forward, the world realizes we need to be proactive and accept new technologies to lead a more sustainable future. We need to adapt our technology and our supply chain to account for these global changes, improvements and hinderances. We as business leaders need to be not only responsible but also promote economic responsibility to our business and our community. Below are just a few benefits of looking at the future for supply chains.
- Retain Customers– With the difficulties now with lead times many customers want to know when their products will be delivered, and to have that delivery within a reasonable timeframe. Being on top of production and honest with lead-times with your customers will keep them having a good experience so that they keep coming back in the future.
- More Sustainable Business – As global climate change continues to wreak havoc, people inside and out of your business are watching to see what you are doing to help. Bringing in materials on off seasons or in bulk can show that you are doing what you can to be get ahead of issues and help your company survive or thrive.
- Industry Leadership – Those that decide to embody change become the leaders. The supply chain is drastically different then it was 2 years ago before COVID-19. Adapting to the new market and processes helps prove your place as a leader and shows that you support your people and plan to be a part of the future.
To summarize, looking into your supply chain and basing your decisions on the current, past, and future is something that is needed in the current market place if you want to stay on top of your industry.
With so much changing, it is time we all start taking those extra steps to move forward into the future. To learn more about the supply chain and how it might affect you, click here.