Where Do Small Businesses Get Their Supplies – Supply chains are the lifeblood of the global economy. And today, they are more complex than ever – the result of relentless globalization and just-in-time delivery. But this complexity comes at a cost: prone to breakdowns. According to McKinsey, “Companies can now expect supply chain disruptions of one month or more every 3.7 years.” As a business owner, you cannot ignore the flexibility of your supply chain. By simplifying and optimizing how you source goods, you can protect your business operations and the environment. CoVID-19: The Great Disruptor Over the past 18 months, a perfect storm has hit the global supply chain. It started with the coronavirus pandemic: shelter-in-place measures stopped factories from grinding, and many facilities suffered from outbreaks. Then there was the Suez Canal, the destruction of the Texas power grid, and the uneven recovery that saw the US reopen economically with vaccination campaigns ahead of other countries. As a result, US demand for goods and raw materials is increasing as the recovery takes root, but many exporting countries are still struggling with COVID-19 and are not operating at maximum capacity. The result: supply chain disruptions and increased overall costs. Environmental, Social and Governance (ESG) Considerations At the same time, we are seeing the growth of ESG management practices. This concept has long been associated with the investment industry, but today it is used in all aspects of business, including supply chains. This is not surprising given the large global footprint of purchasing, packaging and transporting goods. Sources matter and consumers—especially smaller ones—are starting to take notice. People are interested in what is happening behind the scenes: will it grow sustainably enough? Were the workers paid a fair wage? Is executive compensation too high? ESG practices are not only of interest to consumers. Banks and other lending institutions also offer favorable loan rates for businesses with proven ESG practices. This is because regular reviews of supply chain, business management, and other aspects of operations help businesses identify issues before they become problematic. Respond quickly to changes in the business environment. With this information in mind when evaluating your supply chain, businesses should consider where and how they source their goods and raw materials. Here are some ways to improve supply chain stability and sustainability. Go Local To make sure a crisis 5,000 miles away doesn’t leave your shelves empty, you need to source locally. If you run a clothing store, a local manufacturer in your backyard can also meet your supply needs. Likewise, the pandemic has forced Americans to rally around their communities and support neighborhood merchants, so customers can feel good about selling your local products. Plus, staying local reduces shipping costs, keeps money in the community and helps maintain inventory levels. And there’s no reason why you can’t add more suppliers to your existing suppliers. A diversified supply chain is flexible. Consider ESG in Sourcing The ESG movement is gaining momentum, especially among Generation Z (those born between 1995 and 2010). This group prefers to support earth-friendly brands. In fact, a recent Forbes article reported that Gen Z shoppers are willing to spend 10% more on sustainable products. Additionally, this generation and millennials base their purchasing decisions on ESG principles. After switching to green products, maximize the impact by letting your customers know you’re putting the environment first. Improve Your Supply Chain Disruptions are inevitable. The best way to deal with them is to be proactive. This means a fast and responsive supply chain. Some ways to improve it: Practice proper inventory management. If you know what your customers want and buy, you will be in a better position to predict future trends and plan promotions accordingly. That way, when obstacles do arise, you’ll be better prepared. Establish supplier relationships. A good relationship with your suppliers can mean the difference between fulfilled orders and bare shelves. Use multiple suppliers for one product. This is self-explanatory and we have already touched on it. Relying on one supplier is dangerous. Like an investment portfolio, there is safety in diversification. Verdict With recent disruptions in our supply chain and growing environmental concerns, businesses are making a compelling case for changing the way they think about their suppliers. Geographic diversification means less concentrated risk, and local suppliers become fewer trucks on the road, cargo planes in the sky, and freighters on the ocean. Your customers will also see how you adapt. It’s a win-win situation. Contact our payments experts today to learn how Sekure’s offerings, including the Paynywhere software suite, can help you manage your supply chain and inventory. And if you found this article helpful, check out Sekure for more resources.
Tom Heaney is a writer, translator and editor. In addition to working hard in communications, he also works in the woods for his Sweet Bark Maple Syrup. He lives in Centertown with his wife, daughter and dog Louie.
Where Do Small Businesses Get Their Supplies
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How Small Businesses Can Improve Their Supply Chains
Want to learn more about the business? Subscribe to our monthly newsletter now and join over 40,000 business owners for exclusive content and insights. As a small business owner, you will quickly learn how and where to cut costs when necessary. A great way to save money in the long run is to buy your materials and packaging in bulk. Some items you might consider ordering in bulk are shipping materials (eg peanuts/fillers, tape), business cards, postcards, or inserts and other promotional materials. Let’s discuss the best places to buy in bulk as a small business owner.
Noise is a great place to start! noissue has tons of shipping items you’ll need as a small business owner. Here you can find paper, boxes and mailers, stamps, stickers and labels, tags, tape, bags and more! buzz is great for businesses because they offer the ability to customize your orders, meaning you can put your brand logo on almost anything you need.
Nossiue offers minimum order features, making it perfect for any stage of your business. So if your small business isn’t fully established yet, bulk ordering your supplies won’t break the bank. Noise is also appreciated for its eco-friendly packaging. Their sustainable products are compostable, recyclable and reusable.
Finally, they also offer a sample pack for $5. This allows customers to feel your product, see the quality, color and texture before they decide to make their first purchase.
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Vistaprint is another great bulk ordering tool for small businesses. vistaprint is known for providing customized marketing materials and promotional materials for business owners. They encourage their customers to be as creative as they want with the products they choose to order. Vistaprint also offers free designs for those who don’t have design skills or are trying to save a little money.
Vistaprint also offers stationery such as business cards, packaging materials, bags, promotional products and more! However, they are famous for their choice of print.
One of the best things about VistaPrint is their pride in their customer experience. If you need help with the design, they will offer to help you with it. If you order something and you’re not satisfied, they offer free reprints, account credits and/or refunds. This really helps small business owners feel comfortable knowing that 100% satisfaction is achievable.
If you’re looking for labels, business cards, and other stationery, Avery is a great option for bulk shipping! They offer a variety of shapes and sizes, as well as colors and materials. They also offer the ability to customize each order. If you’re looking for a place to deliver bulk orders that you can find in an office, this might be the place for you.
The 4 Essentials Of Managing Supply Chain For Small Businesses In 2022
Avery offers pre-designed templates that you can use and add to your business information. You can download these templates into the software of your choice… and it’s free! Avery has a 100% guarantee policy for every one of its customers and prides itself on having the highest quality of any supplier you can choose from.
A clear bag is something else.
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