We live in a new era of supply chain management. Gone are the days when companies could use lean, fragile supply networks to keep their goods flowing.
As the world adjusts to a new supply chain normal defined by greater risks and more disruptions, it’s important for all companies (including health and wellness brands) to build strong supply chains that can remain resilient, withstand interruptions, and adapt during times of growth. Here are a few tips to help you do just that.
1. Find a Good Distribution Partner
If you want to build a company that can distribute goods across the North American marketplace, you need to have a strong support network in place. Working with a quality distribution partner like TruLife gives you access to a veteran team of supply chain and distribution experts.
A distribution partner can help you head off potential issues, stay compliant at every step, maintain low costs, and invest where it matters most. They can also help you adapt and find the best path forward when your supply chains are disrupted or broken.
If you want to build a sustainable chain of supplies that can propel your enterprise toward greater success, start by building your distribution network and support channels.
2. Revolutionize Your Inventory Management
Another step to take before you start scaling is to make sure your internal inventory management is ready for the additional strain of growth. When supply chains are uncertain, you don’t want to hold up marketing and sales initiatives due to unexpected relapses in the supply chain.
To keep up with supply and demand, make sure to implement effective inventory management. There are many software platforms available that can help with this. These often come with predictive analytics tools that can watch stock levels in real-time, forecast potential issues, and use past data to avoid future overstock or stockout situations.
If you want to survive the fluctuations of the supply chain, make sure to keep what you can control (your internal operations) in good working order. Once again, working with a good distribution partner can also be useful here. TruLife, for example, has its own logistics and warehousing service that can help meet scaling demand.
3. Build Resilient Supply Chains
One supplier may have made sense in the past, and it’s still fine to work with a single company in the present, but don’t get caught flat-footed when things change. Do your homework ahead of time and make sure you have alternative options if a supplier cannot come through on an obligation.
Go beyond suppliers, too. Consider how you can create redundancies across every aspect of your supply chains. Are there ingredient or packaging alternatives you can opt for if something becomes unavailable? What about manufacturing, shipping, or product design?
Use your research time to keep up with ongoing market shifts and changes, too. Keep your finger on the pulse of your industry. Observe broader market trends. Stay ahead of new regulations, demands, and economic instability.
Building Robust Supply Chains for the New Normal
The supply chain may not be as dependable as it once was, but that should never stop a business from thriving. Take precautions and build a strong supply network so that, when disruption comes, you can thrive while others try to survive.
If you see the need for a stronger supply chain but you aren’t sure what to do, let’s connect. Book a free consultation, and together, we can explore how to strengthen your supply chain and set the stage for your company to take the next step.
