How to Deal with Logistics Issues During a Pandemic
Certain events in the history of humankind – global pandemics, for instance – have time and again proved why organizations need to have a plan B. And C, D, E, and even F, if everything else fails. Supplement brand owners have felt the tremors of such happenings as of late, especially in terms of how supply chains have been affected around the globe.
A massive range of logistical problems have come to the fore, leaving supplement companies scrambling for alternative options, contingency plans, and backup strategies to deal with them. Some of the most prominent logistics challenges that supplement businesses, in particular, face in the wake of a pandemic include:
- Supply chain distress
The dietary supplements industry is currently valued at $121.6 billion and is expected to hit a whopping $278.02 billion by 2024. However, in a pandemic scenario, this industry can be hit where it hurts the most – the supply chain. The sudden downturn has taken a massive toll on the supplements supply chain, affecting critical areas like transportation, import, export, and clearance, while substantially increasing the costs involved in all of these processes. - Inventory management
The imbalance in the supply chain has, in turn, led to a range of problems for supplement businesses. The most prominent among these issues is finding the right balance between stocking inventory to meet customer demands and avoiding excess stocking[i]. Inventory management has also taken a hit because of factors like supply-side shortage of ingredients, unavailability of raw materials, global restrictions on manufacturing and trade, and lack of workforce for stock handling. - Logistical coordination
Supplement brands are looking for alternative sources of supply since they know their built-up inventory will burn out soon. With freight flights, vessels, and road transportation options drying up (and getting expensive) due to the lock down laws in different countries, it is essential for supplement companies to weigh different logistics management and order fulfillment options.
- Warehouse management and storage facilities
The importance of warehousing has increased in these tumultuous times since storage is another vital aspect of supplement inventory management. The return of limited human resources under stringent government norms in different countries means that there is an additional focus on hygiene and sanitation. Businesses that have clean and safe warehouse storage facilities or partners that offer flexible warehousing options are likely to find it easier than the others.
Your Checklist for Dealing with Logistical Issues
For dietary supplement brands and businesses, this is a sensitive period and can tilt either way if not dealt with properly. Given the variety and magnitude of challenges mentioned above, it is essential that companies plan for the present and the future, while preparing for the worst.
Here are a few steps you can take in order to manage supply chain and logistics-related problems:
- Bridge the gap between manufacturing and customer demand
Stock up inventory by using predictive analytics to forecast demand. You can look for additional warehousing options to accommodate the surplus inventory[ii]. For complete fulfillment solutions, you can engage a partner who offers end-to-end solutions, minimizes touch points, and helps decrease costs related to transportation. It is recommended that you establish a strong relationship with a logistics company that can offer reasonable pricing plans and multiple carriers. - Plan and manage inventory
Having a modern inventory tracking and management system in place is indispensable today. Make sure your inventory management solution provider offers real-time information about your stock and makes the entire process seamless. This will also enable your customers to make reorder decisions quickly. - Invest in smart warehousing
In a pandemic scenario, precaution and preemption is the best mantra for supplement businesses. In terms of warehousing, this means collaborating with an experienced and reliable partner with a proven track record. Prioritize flexibility, transparency, and hygiene over everything else when looking for storage options. It is important that regular hygiene and sanitation checks are conducted so that your warehouses are risk-free.
Partner with NutraScience Labs for Your Order Fulfillment Needs
Desperate times don’t call for desperate measures – they call for smart moves. With NutraScience Labs, supplement brand owners can overcome their logistical issues while also maximizing revenue opportunities.
When you manufacture your dietary supplement product with us, you can take advantage of our end-to-end fulfillment services. These solutions are designed to meet the unique needs of supplement brand owners. With high-quality warehousing and storage facilities, and dynamic logistics solutions, we can help you avert potential obstacles. This way you can wade through the “new normal” even when there are unprecedented supply shocks or lock downs.
Here are a few of our capabilities that you can leverage when you choose us as your supplement manufacturer, so you can focus on your core business areas:
Warehouse facility
Bid adieu to your stock storage worries with our on-site warehousing facilities. We have high-end security systems in place and our facilities comply with the latest industry standards and best practices. With a cGMP-certified warehouse registered by NSF, you can be sure of a secure and climate-controlled space to store and manage your inventory.
Inventory management
We offer a highly accurate and ultramodern inventory management system so you can keep track of your products in a hassle-free manner. Get the best of inventory management with real-time tracking options, a personal dashboard and the power of data analytics.
Order fulfillment
With over 120+ years of nutraceutical experience, our services also include a wide range of shipping options, including adept order fulfillment service. We partner with the leading carriers in the world to make sure your supplements reach their destination in a safe and secure manner.
References:
[i] https://www.nutritionaloutlook.com/trends-business/covid-19-and-dietary-supplement-supply-chain
[ii] https://www.naturalproductsinsider.com/supply-chain/covid-19s-effects-supplement-supply-chain-podcast
