Preparing for the Changing Seasons & How They Impact Supply Demands

Inventory management is critical–and the supply chain challenges suffered throughout 2020 and 2021 have made it increasingly obvious that it’s essential for businesses to stay on top of those challenges. Consumers are shopping earlier for the things they know they really need, because they worry about those items disappearing before they have a chance to buy them.

How can you prepare for increased demand?

Make sure you have the right supply chain planning solution

An effective supply chain planning solution helps you manage many of the challenges often associated with inventory management. Not only can it help you keep up with changes in global supply chains, including delays like the Lunar New Year or even the challenges often posed by hurricane season–or the winter holidays–your supply chain management platform can help you keep up with times when inventory demand increases for your business.

Get to know your products & your customers

Supply planning is unique to your business. Another business may not need to keep the same inventory on hand that you do. Your customers have unique needs and unique buying habits.

Get to know them. Know who they are, what they need, and when they’re most likely to turn to your business. Get to know your peak times. Test and adjust inventory accordingly until you have a solid understanding of exactly what your customers need most. Then, you can build resilience into your system so that you can address potential challenges and keep your supply chain moving smoothly.

Plan well ahead

Due to global supply chain disruptions, you cannot afford to leave your inventory planning until the last minute. Plan for major increases in demand. Track trends. Know where your inventory is coming from and, ideally, how you’ll manage it if a delay occurs, or demand shifts suddenly. Have contingency plans in place. Platforms like StockIQ can help you identify potential solutions for your inventory challenges, but planning ahead can put you in a great position to implement fast.

Consider your real needs

Try to avoid hoarding–a trap that businesses can fall into just as easily as individuals. If you start hoarding resources, especially if you do not have adequate storage, you may end up inadvertently stocking too many items that will not have an indefinite shelf life–especially if you deal in perishable goods. Make sure you’re taking your business’s real needs–and those of your customers–under consideration as you plan your inventory.

Stock in advance when you can

Some items, you cannot stock up on in advance, because their shelf life isn’t long enough to support it. Many items, however, you can have in your warehouses, back rooms, and stores well before demand increases, which can make it easier for you to plan for potential disruptions and avoid disappointing your customers.

Dealing with supply chain disruptions feels increasingly difficult to many businesses. Fortunately, you do not have to manage them alone. Contact us today to learn more about our supply chain management solutions and how they can benefit your business. Join us each week for a 30-minute live demo overview of StockIQ Technologies Supply Chain Planning. Don't pass up the opportunity to hear questions from your peers as industry experts Jeffrey Porter and Jeff Woodmansee answer their questions.

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