Best practices
- Expanding the sales window. Many retailers are offering deals under the Black Friday umbrella for the entire week or even month. This type of supply chain planning tactic is a great way to spread out the demand over a more manageable timeframe.
- Omni-channel logistics. By using omni-channel logistics, retailers take the advantage of nearby options by sourcing products from the nearest source to the location of the customer placing the order. Digital and physical operations should be integrated, flexible and seamless.
- Cross training. Making sure that all of the employees receive cross training throughout the year ensures the retailer to face Black Friday with a balanced workforce.
- Focus on customer experience. While optimizing supply chain efficiency with standardized processes and automation, supply chain professionals should be focused on the customer experience. Of course, a tech check-up right before the troops hit the decks is mandatory!
- Learn from previous editions. Look back at Black Friday 2020 and see what went well and what didn’t. Start planning for 2022 as soon as the Holiday Season 2021 ends.
- Use your 3PL’s value-added services. Use your third party logistics provider as an extra benefit to your process. Ask your 3PL if they offer temporary multi-client or overflow warehousing to handle increased inventory for peak seasons.
- Take care of your employees. As much as possible, try and keep it light- and maintain open communication by having conversations with employees to make sure they feel appreciated during such a critical time for logistics.
Your supply chain planning is put to the test during peak seasons like Black Friday and Cyber Monday, but with proper preparation and a flexible range of options, your supply chain can confidently meet these challenges. Supply chain professionals are there to help support your business through peak times and slow times with industry-leading third party logistics services and expert supply chain planning.
Thus, retailers who are unable to plan, allocate and forecast across their omni-channel operations will continue to struggle to meet customer expectations and elevate customer experience. Those retailers that improve their planning, allocation and channel replenishment process in time will boost sales, increase margins and cut inventory costs.
Looking for support to make your supply chain operation run more effectively during Black Friday and Cyber Monday? Give us a call!
