Supply Chain Tips: Supply Crunches
Supply chains across the globe are being stretched to the max. Issues with port congestion and component shortages are causing problems with project timelines. Right now, it’s essential to know what you can take on and build while understanding build priority timelines that need to be in sync with shipments. Preorder critical equipment early. In times of shortages, it’s essential to understand your critical spares and protect them; critical spares will ensure if you have an outage, your outage timeline is minamized. Finally, proactively work with your logistics shippers to negotiate the best rates possible for ground and overnight shipments.
Work with your vendors to build stock buffers and an understanding of priority. Remember availability sometimes outranks costs when cost runs are higher if the project build runs longer.
Don’t be afraid to think outside the box; think of new methods and partners to strengthen the supply chain.
Proper planning will help mitigate these supply chain crunches and remember to over-communicate your stock needs. 😉