Managing the Supply Chain in 2022 and 2023: Suggestions For CPG Brands
If 2020 and 2021 have taught us anything, it’s that government lockdowns and mandates affecting businesses are no longer unprecedented; they’re the new normal.
As a result, the supply chain has remained in a state of chaos, drastically affecting CPG brands’ sensitive production schedules.
According to supply chain experts, the current chaos is likely to continue until at least Spring 2023.
It’s time to adapt.
Procurement and supply chain processes will need to evolve, or we will all face the risks of supplies going out of stock.
Here are two ways to adapt to continuing supply chain uncertainty in 2022 and beyond:
1. Increase and Diversify Strategic Suppliers.
By growing a roster of suppliers, CPG brands can decrease their chances of supplies going out of stock and falling behind production schedules.
Once a roster of various suppliers located in strategic locations has been made, teams can measure and compare performance to determine which supplier can be trusted as a primary.
Resting on just one supplier won’t cut it anymore; diversifying suppliers is insurance for any production schedule.
2. Place orders sooner and increase the quantity held in stock.
Under the current circumstances, everyone will need to anticipate longer-than-advertised lead times in 2022 and 2023.
Planning and ordering further in advance will be a must. Some experts are instructing buyers to make supply purchases as much as several months out.
Additionally, when planning and ordering supplies in advance, CPG brands should also increase the quantity typically ordered and simply hold a larger reserve in stock.
As the saying goes, it’s better to be safe than sorry. Many companies found themselves out of stock and out of luck during demand increases over the past two years.
Moving into 2022 with these preparations in mind, brands can put themselves in a comfortable position to ride out supply chain uncertainties.
Finding Additional Strategic Suppliers That Your Team Can Trust
Looking for that additional strategic supplier?
We’d love to see if Tango would be a good fit…
Step 1. Schedule a complimentary packaging consultation with one of our packaging experts. We can share our current lead times, pricing, and solutions tailored specifically to your products.
Step 2. We’ll send you complimentary samples to test.
Step 3. We’ll provide you with a quote.
Simply fill out our contact form, email us at info@tangopackaging.com, or call (844) 33-TANGO [82646].
We also have deep roots in the packaging industry, so if our team isn’t the best supplier for you at this time, we’ll likely be able to connect you to someone else who is.
As you adapt during this crucial time, Tango Packaging has your back.