The coronavirus disease (COVID-19) global pandemic continues to spread and cause freight disruptions. Whether you have a full truckload or LTL shipment, WM Martin Transport is working to provide businesses like yours with the latest information, guidance, and resources needed to navigate these uncertain times. Although this is not the first or the last event to disrupt supply chains, unpredictable logistics require a proactive approach to keep business running as usual. Today we’re uncovering practical steps to keep your freight moving during this pandemic.
EVALUATE SUPPLY CHAIN
Keep a close eye on your inventory levels. Understanding the effect of this global shutdown of the economy and how it correlates with “just-in-time” manufacturing and deliveries is vital right now. Start to become familiar with changes in all manufacturing and deliveries. Find out what will alter the tempo you typically march by. If you’re working with a 3PL Provider, start conversations about production forecasting and your future transportation needs. As you’ve probably already expected, demand has started to surpass available capacity in some regions.
There are so many variables to consider when planning your production in a normal business environment. In this unprecedented business environment, the variables have been compounded exponentially. Working through these variables with a supply chain expert will help you get better prepared to navigate through the uncertainties of this unique time in history. It is paramount to discuss how backlogs will be addressed and how your existing inventory compares to your sales projections. Have a plan in place in the event that your production teams are cut down as this will directly affect the demand window.
DIVERSIFY YOUR SUPPLY CHAIN
We’re seeing backlogs daily. This proves the importance of a diversified supply chain – including carriers, modes of transportation, sourcing locations, and much more. When the start of production is delayed, keeping up with the workload poses a challenge. Having backup sources could save the day. Finding additional sourcing options isn’t easy and keeping up with the sheer demand and quality controls can be a challenge.
Connect with a leading Third Party Logistics Expert during this process of vetting alternate sourcing options to understand the cost, lead time, and the basic logistics involved in making a transition. This will drastically alleviate the extra cost of uncertainty once you have decided to purchase from a new source.
No one knows how long this pandemic will last, but WM Martin Transportation Experts are dedicated to providing you with freight logistics that move you forward. We’re as passionate about your shipments as you are and that’s why we will continue to closely monitor the situation and provide updates through our email newsletters. We encourage you to reach out to your WM Martin Transport Account Manager or talk to an expert for any questions. It’s our mission to serve your freight shipping needs so that you can focus on your core competency.