It’s Chinese New Year for 2022 and time for celebration and spending time with friends and family. But for many of the world’s supply chain sourcing managers, the Year of the Tiger will see yet another annual rush to minimise disruption.
Chinese New Year happens… yearly
Although it happens every year there is always a running joke in the supply chain industry: “Chinese New Year is already here!?”. Everyone tries to rush their orders and transportation needs before it grinds to a halt, and no one is ever fully prepared.
Chinese New Year is always a scramble and today’s economic uncertainty only makes things harder for industry leaders looking to delight customers with their latest products.
Not only is there a constant challenge of finding a better route (and what routes are available), there is ongoing supply chain disruption today which calls for more effective visibility into the options available, and how you can shift things around.
Every Chinese New Year, global brands often find themselves in a ridiculous situation where people are scrambling, production gets a little bit delayed, and the best laid plans always fall apart.
It's not always a mess, but everyone seems to run out of time trying to rush and do things quickly.
Avoiding Chinese New Year and other bottlenecks
As busy times like Chinese New Year show us, global business disruptions are not just limited to transportation hubs, but a whole supply chain can be impacted due to the availability of raw materials and labour. This is going to be front and centre for an additional six months to a year because decisions are not being made fast enough and, if anything, probably getting worse. And it’s not always New Year to blame.
For example, when Apple releases a new product the sudden demand can block all air freight – and a lot of shipping freight as well – so something completely outside of your industry can have a knock-on effect on a variety of industries.
Other disruptions, including the Ningbo port shutting due to COVID, a key factory going bankrupt and floods in Bangladesh can impact the global supply chain network.
You will always have supply chain risks to mitigate so it’s time for better insights. This is why some savvy businesses are keeping an eye on their ever-changing supply chains and getting their suppliers to understand the challenges and pre-empt any risks.
Dodge disruption with supply chain visibility
Disruption will always happen, but with better supply chain visibility it doesn’t have to impact your business.
Having visibility into your sourcing and transportation is going to give you a head start and more valuable insight than those that don't have it.
Better supply chain visibility gives you the ability to proactively communicate with your customers about the impact of disruptions such as CNY and how you are mitigating them: knowing where you source from and the ports you are shipping from can give you a big advantage.
How well do you know your supply chain? Reach out to us at Serai to schedule a chat and learn how we can help you gain valuable insights into your supply chain health around the public holidays that we display in your dashboard. Super useful for Chinese New Year, Valentine’s Day, Single’s Day, Thanksgiving, Christmas and more.