Many companies saw supply disruptions in 2021 and are eager to start fresh in the new year. Unfortunately, many economists expect supply chain bottlenecks to continue well into 2022. The “wait and see” approach is no longer an option, as losses from supply chain disruptions are becoming more and more costly. Instead companies, like Premier, are getting ahead of the game and offsetting supply setbacks before they occur.
Diversification is Key
The single-source approach can set a company up for failure. Instead, consider alternate supply sources and begin weaving them into your overall procurement plan before disruptions occur. This diversification helps to lessen risk and ensure that you don’t have all of your “eggs in one basket” when the next supply issues occurs.
Distribute your Inventory
When issues arise in your supply chain, having multiple distribution centers can save both time and money. Dividing inventory across multiple fulfillment locations expands customer reach geographically while reducing shipping costs and speeding up transit times. For instance, Premier’s locations cover both the East and West coasts, allowing us to continuously meet demand despite any disruptions.
Partner with Multiple Carriers
As seen during COVID-19, shipping carriers are facing capacity issues, causing major shipping delays. By using multiple shipping carriers, you have more shipping flexibility. Not only can you leverage transit times, but costs as well. Premier works with multiple carriers on a daily basis to get product out quickly and at the lowest cost available. This allows us to pass savings onto our customers.
By implementing some of the strategies above, companies can prepare their supply chains for the impacts of the next disruption—no matter how big or small that event may be. After all, it doesn’t take a global pandemic to bring a supply chain to a halt and the next interruption could be waiting right around the corner.
To learn more about Premier’s locations, visit: https://premierbuildingsolutions.net/contact-us/