How to Overcome Major Supply Chain Issues in the New Year

With so many supply chain issues to consider, knowing which to focus on in the new year can be overwhelming. That’s why we have compiled this list of the three biggest supply chain issues facing companies in the new year and how you can overcome them and succeed in business.

The problem with ordering online

There are a few major issues with ordering online. The first issue is that it's hard to know what you're getting without actually seeing and touching it. For example, when ordering clothes online, one could buy a shirt that looks good on the model but be disappointed when they receive it because their body shape doesn't work well with that style. Another issue is that there are shipping costs associated with buying products online which will make the price of an item much more expensive than if they were bought locally. Finally, another concern is that there may be delays in getting your items and sometimes you won't get them at all which can lead to loss of money as well as time spent waiting for something to come in that never arrives.

What is being done about it?

It is not too late to get prepared for the new year. Here are some helpful tips on how you can avoid major supply chain issues: 

- Monitor your inventory and place reorders when necessary. 

- Avoid buying too much of any one item that is currently out of stock. 

- Always order more than what you think you will need so that there are no delays in receiving more inventory when it comes back into stock. 

- Create a backup plan, such as using another supplier or preordering items when they come up for sale again.

Fast Fashion Will Drive Change

As one of the first clothing companies to launch an online store, H&M has had a major impact on fast fashion. We’ve talked about how fast fashion has changed retail and now it’s time for us to take a look at how it will affect supply chain logistics. By 2022, we expect that H&M will have increased their global production by 50% and that they will increase their focus on sustainable materials and manufacturing processes.

You Can Read Also : 6 Tips for Navigating the Supply Chain & Logistics Crisis

Retailers Taking Responsibility

It is time for retailers and brands to take responsibility for their supply chains and ensure that they are not supporting exploitation of workers. In order to do this, companies need to be transparent about where all of their products come from, and make sure that they are sourcing from ethical suppliers who have a strong commitment to their workforce.

Can Blockchain Solve It?

As a result of these major issues, companies are scrambling to find new and innovative solutions that will put them back on track. Blockchain technology is one such solution that has been gaining traction as a potential way of solving supply chain issues.

Should We Be Concerned?

While many of us are looking forward to an exciting new year, it's important not to lose sight of how disruptive this past year has been. From disasters like Hurricane Maria and earthquakes in Mexico City and California, there's been no shortage of devastation. And just when we thought things couldn't get any worse, international trade disputes erupted that led to a global economic slowdown.

So What Can You Do Now?

The best thing you can do now is have a plan. Having a plan will help you feel more prepared when things go wrong. Don’t forget that it's not just about what you do, but also how you react. If your supply chain has been disrupted, try and find ways of minimizing the impact on your customers.

Better Quality Logistics LLC is a rapidly growing 3PL freight brokerage out of South Florida. With a focus on providing the best quality logistics services possible, Better Quality Logistics LLC has become a go-to source for businesses looking to increase efficiency and reduce costs. From shipping supplies and ingredients to manufacturing products and materials, Better Quality Logistics LLC offers an extensive range of services that can help your business thrive. Contact us today to learn more about our services and how we can help you get the most out of your shipments.