(RepublicanReport.org) – Countries around the world are approaching the end of the COVID-19 pandemic, but the indirect consequences of the deadly virus are only starting to become apparent. One example is the supply chain crisis, which shows no improvement in the immediate future. With shortages in mind, many consumers and businesses are already starting to think about how to deal with supply issues in 2022.
“Forecasting for demand is just kind of out the window during the pandemic.”
— Jennifer Smith (@jensmithWSJ) December 9, 2021
The first thing experts recommend is to plan ahead. Don’t presume short delivery times will remain short indefinitely. If people know they’ll need a certain amount of nonperishable resources, stock up while supplies are available.
Of course, this isn’t possible when it comes to perishable items. Having multiple suppliers is one way to stay on top of supply chain challenges for these kinds of goods; if one source is out of what is needed, perhaps another source may come through.
Businesses should also look at ways to limit costs associated with transport. As supply chains have come under more and more pressure, the cost of getting certain products from point A to B has skyrocketed. Work with suppliers to negotiate medium-term price deals to keep everyone happy.
Remember, while supply chain issues may be here for the foreseeable future, they’ll eventually work themselves out. So it’s a good idea to plan ahead as much as possible and focus on keeping costs low and operations running until supplies catch up with demand.
Copyright 2021, RepublicanReport.org