The holiday season is the busiest time of year for virtually all businesses. During this time, companies take a hard look at their supply chain in hopes of improving their bottom line and customer satisfaction, and with good reason. Globally, Singles Day (in China) and Black Friday (in the US) are two of the most profitable times of year, but without a clear plan, it can quickly become a disaster for online retailers.
Tips for Managing Your Supply Chain
Start Planning Things Well in Advance
When Christmas season and New Year’s Celebrations are over, it’s time to plan for the next holiday season. You need to consider long-term forecasting and initial purchases that will be made. Due to Australia’s global proximity, delivery of products from manufacturing hubs can be lengthy. This means products need to be sourced and ordered well in advance of the next holiday season. The sooner you pre-order your products, the sooner you can start marketing them to the public. It’s important at this step to include your freight provider on your busy season plans, so they can help take the headache out of logistics, and ensure your products are delivered in time.
Think About the Holiday Season
During Christmas, things will undoubtedly be hectic for your business. Inventory management should hone in on sales expectations. In other words, you need to plan your sales forecast and order accordingly. Once your store is stocked, the next step is to plan your short-lead replacement. Prepare your supply chain to be proactive and reactive to avoid serious issues down the line. The best way to do this is work with a trusted freight provider (such as Freight People), whom can help plan and manage busy periods. If your sales exceed your forecast then you should easily be able to reorder from your supplier, and by ensuring your freight provider is across the busy period requirements, they can take care of getting your packages where they need to be.
What to Do Afterwards
After things have calmed down and the busy season is over, you need to analyze your stock and concentrate on the new season. Look at what happened during the busy time, where improvements can be made, and whether or not your stock was completely sold out. Use this information to guide your planning of next year’s busy season. Good freight providers should be able to provide you with heat reports showing where and how much of your products were sent, so that you can plan for the future.
With proper planning you can enjoy a successful busy season each and every year.