Supply chain resilience is never really built into any company, and it must be forged, often when it’s too late. Only after experiencing supply chain issues do most companies begin the process of planning for the next one. But what if you get ahead of the situation and mitigate as much of the risk as possible before it even has a chance to hurt your company? From inventory tracking tools to sourcing from a diverse range of trusted suppliers, here are some handy suggestions.
Stock Up on Essential Supplies
Making sure you have enough supplies to last a possible shortage will help ensure you can keep up with the demands of customers. Using a laundromat business as an example, without sourcing from reputable distributors such as RJK Parts, you risk a shortfall of vital parts to maintain the equipment. A healthy supply of stock with a “just in case” attitude can be the difference between staying afloat during a supply chain crisis and your business sinking.
Invest in Inventory Tracking Tools
With today’s technologies, such as the Internet of Things (IoT), 3PL dashboards, and cloud systems, it is easier than ever to manage stock. End-to-end supply chain visibility is a major advantage for any company, and tracking sources will help avoid delays, bottlenecks, and other supplier issues. Alongside AI tools, it is also possible to predict when such problems will occur, resulting in robust measures that can help your business withstand an incoming shortfall.
Supply Chain Resilience with Trusted Partners
About 65% of small businesses outsource key services required to run the company. From equipment maintenance to managed IT, every business needs partners they can trust. However, you can also maximize business efficiency with smart supply chain solutions from partners who understand the needs of the companies they work with, forming deeper relationships. Rather than treating suppliers like vendors, it is more rewarding to treat them like business partners.
Diversifying Suppliers for Sourcing
Relying on one supplier is the folly of most businesses when it comes to supply chain problems. Like the proverbial eggs in one basket, using only one supplier (unless it is your only option) means you are prone to their issues. So, when they can’t supply what you need, your business suffers. Thankfully, there are almost always multiple suppliers for pretty much anything. A diverse range of suppliers can mitigate risks from shortfalls, disasters, and, of course, tariffs!
Agentic AI and Automation for Speed
Agentic AI is helping businesses all over the world become more efficient. When automated systems can “think” for themselves and make split-second decisions, they can help businesses avoid common problems such as supply chain woes. For example, advanced AI tools can analyze data from inventory tracking tools to predict if there will be a shortfall, and make the decision to order an excess based on what might be needed. The advantages are obvious!
Summary
Stocking up on essential supplies such as machine parts can help small businesses build supply chain resilience for mitigating risk. It also helps to think of vendors as business partners and build relationships, while considering the use of advanced systems such as agentic AI.
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