A brand or company is able to run by selling their item. It's THE most important thing. The second it being able to fulfill it. Here we look at a few supply chain risks that shouldn't be overlooked and the methodology to reduce that risk.
1. Late Delivery
Late delivery means late to the party. Late to the party means that the action, the trend, or the season is almost over. This gives you a limited timeframe to move your product, leaving you sitting on goods, inventory, or just flat out didn't grow your brand and get product in your customers hands. Your supply chain needs be efficient, fast, executed.
2. Standards Are A Direct Reflection On The Brand
When assessing risks, look at every stage of your supply chain. Brands with global supply chains have global exposure and risk. For example, they need to be vigilant about forced labour issues in poor countries. Monitoring tools that can spot these issues early are essential. In other words, know who is making your product and know it before hand. Cheap comes at a cost and most of the time on the backs of labor. You can sell a profitable product that isn't made cheap. (Learn more about our process to make that happen)
3. Too Quick & Too Drastic Of Changes
We are big believers in urgency. Our company works at a fast pace but we know when making adjustments to your supply chain it can be challenging. It can be very risky to your business if you make your changes too fast all at once. New clients that we begin working with, all work at different paces and we want to work at a pace that is beneficial for you. We encourage clients to start small so they can fully experience our process. Our success comes from your success. We want whats best for you. We love chatting about how we can improve your manufacturing process, inquire here.