Seven Best Practices During Supply Chain Disruptions Featuring FarEye
As businesses around the globe navigate slow-downs and shutdowns, there is a lot to reassess in terms of how we can optimize our own practices, not only to survive, but to help and serve society. We are sharing some strategies from our partner, FarEye, that can help you stay on top of increased demands.
Increasing Online Deliveries
More and more purchases are shifting to e-commerce as a safer alternative to in-store shopping. E-commerce has seen a 15% increase in overall demand, a significant jump in a matter of months. We are experiencing an unprecedented surge in demand for online deliveries as people stock up on essentials.
These developments have changed the overall landscape drastically. Healthcare deliveries have surged by nearly 4 times and food delivery services have seen a 78% increase in demand. As a result, companies are increasing hiring for drivers and human resource employees. Amazon alone is planning to hire 100,000 employees to meet the rising demands.
How to Respond to Supply Chain Disruptions
Now more than ever, we can play a significant role; consumers are relying on supply chains to keep up with demand and provide essential items where they are needed most. Increasing scalability, maintaining delivery success, and limiting delays are all important factors that can bring supply chains up to speed.
We have seven tips that can help respond to supply chain disruptions:
1. Leverage crowdsourcing capabilities to optimize your staff and vehicle capacity.
2. Set up contactless payment and deliveries to keep your customers and your employees safe and healthy. Be flexible with tap and go payment, pay in advance options, and leaving delivered goods at the doorstep.
3. Encourage employees to make decisions by implementing a “crisis team”—you can ensure the best possible preparedness in the event of an emergency.
4. Introduce real-time and dynamic routing capabilities so that delivery efficiency is maximized and you can make multiple drops on the same route and meet the demands of any emergency delivery that might become necessary.
5. Consider controlling prices and preventing cost hikes. Unnecessary price increases or promotions can lead to problems down the line.
6. Create a “dark store” strategy that allows you to stay on track of inventory by operating a temporary, mini warehouse that is closer to consumers. That way, you can save time by avoiding deliveries from a further away centralized warehouse.
7. Invest in new technologies that can boost your businesses’ scalability and onboard new platforms remotely.
FarEye is a machine learning-based predictive logistics platform that helps businesses execute, track, collaborate, predict and optimize movement of goods. They are trusted by leading brands like DHL, Walmart, and over 150 other global enterprises to create logistics excellence. This blog post was based on their whitepaper, “Best Practices for Businesses to Survive Amidst the COVID-19 Pandemic.”
As you navigate the new supply chain landscape, we are here to help! Contact us to find out how we can work together. Let’s create a supply chain that is more efficient, accurate, and connected with innovative technology solutions, together.
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