Now that businesses are returning to “business as usual,” we’re wondering what is going to happen to every industry’s supply chain. While the pandemic is not exactly over, we’re interested in taking a look at business supply chain issues and how issues may persist.
What is Your Supply Chain?
The supply chain is a network of vendors a business has that lets them create a product or service for sale. Think about your business and all of the different vendors. That is your supply chain. It isn’t just goods, but people, information, activities and resources that allow you to offer your products or services to the world.
Supplies chains are essential to the operational functionality of your business. Let’s use a shoemaker as an example. This supply chain would include the resources needed to create the shoes like rubber, leather, etc. It would also include the computers your businesses use to manage your business and any other products that your business uses. Any shortage will affect the entire chain and your business’s ability to operate.
Why is the Supply Chain Having Problems?
Your supply chain is probably being disrupted for many different reasons. First of all, the pandemic has changed the way most businesses operate. Because of moving offsite or remote, materials were harder to source and production issues began to arise. The demand for goods and services did not wane, it actually accelerated. This means that the prices began to inflate and the short supply was abundant. There is also a shortage of crucial workers, because of the way the workforce has fluctuated. Fewer people are able to work, want to work or are working. This also affects the supply chain.
What You Can Do?
Here are a few ways you can deal with the effects and impact of supply shortages:
Inventory Control
You will need to start keeping a comprehensive inventory if you don’t already. You’ll need to know what you have, how much you have, and need to keep up on it at all times. If you don’t, you’ll not be able to take any action in fixing your problems.
Be Flexible
Components and products from manufacturers need to be sourced, but most manufacturers will try to wrong their rights for you if they can’t do what you need them to. Sometimes, they won’t be able to fill your order. This means, you’ll need to give them grace, and potentially look elsewhere. While it’s nice to have working relationships, they need to be working, otherwise, you’ll need to move on.
Use Technology
Technology can help with the burden of your supply chain issues. There is software that can automate your inventory for you, so you’re not wasting time, and there are also ways that you can keep track of every part of your business, so you can stay on top of planning.
Here at MyTek, we are not immune to supply chain issues. More than ever, it’s been difficult to procure technology because of microchip shortages. We understand the hardship this causes. When it comes to business supply chain issues, we also would suggest you plan everything as early as you can. That means, planning your technology solutions in advance. Give us a call today at 623-312-2440 to learn more.