PWInsider - WWE News, Wrestling News, WWE

THE LATEST SUPPLY CHAIN DISRUPTOR

By now, most industries have experienced some degree of impact resulting from pandemic-induced supply chain disruptions. The past year was a lesson in adapting to the unthinkable, with survivors learning how to quickly pivot on their feet and winners uncovering innovative ways to serve the market. The lesson we’ve all learned is not to become too comfortable with our routines; at any time, they can be disrupted by unforeseen circumstances. There must always be a plan B. 

2021 Challenges

We should be returning to some form of normalcy with widespread vaccine distribution, but instead are experiencing the results of well-intentioned energy policies gone awry. Biden’s executive order limiting carbon emission levels has crippled the power industry at time when record setting cold temperatures have blanketed the Midwest. Texas experienced widespread, controlled power outages when faced with single digit temperatures. According to ERCOT, the Electricity Reliability Commission of Texas, relying on frozen wind turbines and solar panels for additional power supply proved futile when energy demands soared.

Agriculture industries were hit hard, having to waste perishable foods when operating without electricity. During a time when many industries are already challenged as they adopt to rigorous Covid-19 standards, everything must be done to prevent food shortages from exacerbating the situation. Commissioner Miller from Texas received pleas for help from farmers across the state.

These shortages are not the byproduct of supply deficiencies, rather the result of waste due to spoilage. In fact, demand is higher as consumers stock up and empty grocery store refrigerators and freezers of the most popular products.

According to Fox 7, “Commissioner Miller specifically called on Governor Greg Abbott to designate agriculture producers and processors as critical infrastructure that must be provided gas and electricity to continue operations.”

Software Solutions

It’s a time when every business sector needs to prepare for supply chain disruptions, improve communications and tighten up operations to save money. Software tools like SOS Inventory offer a broad suite of tools at any affordable price tag, making the implementation painless even for the smallest businesses.

With a new administration come new policies – and we’ve only just gotten started. Businesses should expect more regulations on the horizon which will add additional costs to production. Having a software to deliver product and finance transparency makes compliance easier when reports are demanded by governing authorities. Meeting the new demands with tools to minimize the work are essential for staying competitive.

Restructuring

For some businesses, turning to a logistics consultant can offer marketing insights, in-depth analytics, and expertise to dig in deeply into the backend operations looking for ways to make improvements, speed up processes, eliminate waste and improve workflow. 

It’s a time for good communications with your suppliers and if the trust and transparency just aren’t there, it’s high time to start looking for alternatives. The homework required to identify good options and build relationships takes time so it’s best to do due diligence before a major catastrophe befalls your business.

There’s always a way to fine-tune processes to improve production and reduce costs. Your goal as a business owner is to navigate towards reducing costs while maintaining quality and growing your business. These new challenges will test your resiliency. Successful businesses will be born out of adversity.

 

If you enjoy PWInsider.com you can check out the AD-FREE PWInsider Elite section, which features exclusive audio updates, news, our critically acclaimed podcasts, interviews and more by clicking here!

• Tweet