Mercado | Insights - What I Learned in Supply Chain, by Rob Garrison

Insight – Managing Unexpected Events

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Insights: What I Learned In Supply Chain This Week Series
Managing Unexpected Events
Tags: First Mile, Global Supply Chain, Global Trade, Import, Coronavirus, COVID-2019, Supply Chain, Global Supply Chain
Dallas-based startup empowers businesses to optimize international trade.
I spoke to a number or retailers and wholesalers this week regarding the impacts of COVID-2019 (also known as the Coronavirus).

One common theme between them was it's too early to tell. Consider the following:

  1. The virus has not yet been contained, and it's possible it will get worse before it gets better. In addition, the government's response has been erratic. One supplier reported 20% of their work force had returned on Monday, and on Tuesday, half were ordered to return home for another 10-day quarantine.

  2. There are a lot of moving parts in such a complex supply chain, and the tools to deal with them are Email and Excel. Each supplier has suppliers. Pre-CNY orders are in varying states of production. Providers and carriers are in varying states of readiness. Buyers also have buyers (and all are in various states of their response plans).

So what is an importer to do? Yossi Sheffi has a great article in WSJ on the risks and actions needed, and Yossi recommends the following five steps.

  1. Form an emergency management center
  2. Set clear product and customer priorities
  3. Detail Supplier reviews
  4. Cash flow management
  5. Communications strategy (including authorities)

You can read the full article from The Wall Street Journal here.
ABOUT THE SERIES

Each week, Mercado CEO Rob Garrison pens his latest learnings from the supply chain industry as part of a series run for his LinkedIn followers. Each article aims to share a little insight into what's going on that week and to help foster discussion amongst industry professionals across levels, geographies, and companies.

You can connect with Rob on Linkedin by following this link.
GT Nexus founder and supply chain industry veteran, John Urban, has joined the Mercado board of directors.
I spoke to a number or retailers and wholesalers this week regarding the impacts of COVID-2019 (also known as the Coronavirus).

One common theme between them was it's too early to tell. Consider the following:

  1. The virus has not yet been contained, and it's possible it will get worse before it gets better. In addition, the government's response has been erratic. One supplier reported 20% of their work force had returned on Monday, and on Tuesday, half were ordered to return home for another 10-day quarantine.

  2. There are a lot of moving parts in such a complex supply chain, and the tools to deal with them are Email and Excel. Each supplier has suppliers. Pre-CNY orders are in varying states of production. Providers and carriers are in varying states of readiness. Buyers also have buyers (and all are in various states of their response plans).

So what is an importer to do? Yossi Sheffi has a great article in WSJ on the risks and actions needed, and Yossi recommends the following five steps.

  1. Form an emergency management center
  2. Set clear product and customer priorities
  3. Detail Supplier reviews
  4. Cash flow management
  5. Communications strategy (including authorities)

You can read the full article from The Wall Street Journal here.
ABOUT THE SERIES

Each week, Mercado CEO Rob Garrison pens his latest learnings from the supply chain industry as part of a series run for his LinkedIn followers. Each article aims to share a little insight into what's going on that week and to help foster discussion amongst industry professionals across levels, geographies, and companies.

You can connect with Rob on Linkedin by following this link.
                       

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Thank you for using Mercado. Our goal is to empower businesses to better navigate the complex world of importing. We know data security is of paramount importance, so we place high standards on ensuring it is safely and respectfully secured. We are committed to following and continuously evolving best practices to support this principle. Your data is yours, and we guard it closely. We do not sell any of your information, and we will always be fully transparent on how we collect and use your data. That's a promise.
Copyright © Mercado Labs
Made with    by studionine.agency
                       

Terms of Service   |   Privacy Policy
From us to you...

Thank you for using Mercado. Our goal is to empower businesses to better navigate the complex world of importing. We know data security is of paramount importance, so we place high standards on ensuring it is safely and respectfully secured. We are committed to following and continuously evolving best practices to support this principle. Your data is yours, and we guard it closely. We do not sell any of your information, and we will always be fully transparent on how we collect and use your data. That's a promise.
Copyright © Mercado Labs
Made with    by studionine.agency
                       

Terms of Service   |   Privacy Policy
From us to you...

Thank you for using Mercado. Our goal is to empower businesses to better navigate the complex world of importing. We know data security is of paramount importance, so we place high standards on ensuring it is safely and respectfully secured. We are committed to following and continuously evolving best practices to support this principle. Your data is yours, and we guard it closely. We do not sell any of your information, and we will always be fully transparent on how we collect and use your data. That's a promise.
Copyright © Mercado Labs
Made with    by studionine.agency
                       

Terms of Service   |   Privacy Policy
From us to you...

Thank you for using Mercado. Our goal is to empower businesses to better navigate the complex world of importing. We know data security is of paramount importance, so we place high standards on ensuring it is safely and respectfully secured. We are committed to following and continuously evolving best practices to support this principle. Your data is yours, and we guard it closely. We do not sell any of your information, and we will always be fully transparent on how we collect and use your data. That's a promise.
Copyright © Mercado Labs
Made with    by studionine.agency