Supply Chain and Logistics Teams Plan for Holiday Shopping Season
The hardest part about planning for the holiday season is having an accurate demand forecast to help inform your supply chain logistics teams. As for what will happen this holiday season? It's hard to tell. Every industry has been affected by COVID-19 differently and under any circumstances, it's hard to predict just how the market will behave. This year, many decision-makers are calling the shots and making their own predictions without external input. 2020 will likely have the most drastic changes since 2009.
In case you haven’t started planning quite yet, we’ve identified some tips for you to be as reactive and responsive in this year's unprecedented retail holiday season.
1. Data
Data may be an exhausted concept, but it's important to stress so businesses are using it to their advantage. It's crucial to familiarize your company with the volume and flow of the supply chain. Years past offer valuable insight to inform expectations and output moving forward. The data provides a foundation for your company to plan for inbound volume, inventory management, staffing, and so much more.
2. Forecast
Use your data as a starting point for building your internal forecast. While there inevitably will be outlier variables, this will allow you to get a grip on your particular market segment and audience. With your data in mind, listen to your audience and diligently observe consumer trends. Identify data points that stand out and share it with your team to have a shared focal point. Your forecast must be lean and flexible so you may make real-time adjustments and pivots in tandem with consumer behavior. There is a lot at stake here so listening will be imperative to build better relationships with people and to operate as smoothly as possible despite the turbulence.
3. People
Include your HR department in the decision-making process this holiday season. The role of HR will be extremely impactful in planning for Q4 volume. This will help to effectively demonstrate strategy and ensure that fulfillment centers are operating at high efficiency. Identify areas where more staffing is required and make sure to onboard new hires at a time that provides room for training in order to maximize efficiency and productivity levels.
4. Test
Test all new equipment out as often as possible leading up to the peak retail season. There is too much to risk here by waiting until mid-November to see how the equipment performs. There is nothing worse than a surprise that threatens to interrupt or jeopardize productivity in an already volatile ecosystem. You and your customers need a sure thing.
5. Check
Inspect what you expect. Spot check your procedures and logistics plan and go over the details. Make sure that you have eliminated any room for error so that your vision will not be compromised. Practice effective communication so execution plans remain consistent down the line. Being highly detail-oriented during this unpredictable season will serve operations well.