Handling Peak Season in the New Normal

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2020 has been quite the ride for the logistics industry and supply chain planners with mass manufacturing facility shutdowns, warehousing disruptions, ocean and air shipping modifications, adding to an already heavily unstable freight marketplace. At the same time, fees skyrocketed as huge volumes of emergency equipment are being transported globally.

With backlogs clearing up and businesses resuming in the final quarter of the year, we must now solicit the question on everyone’s mind, what happens this peak season?

Let the experts at MGH help you and provide a few tips and tricks on how to handle this stormy peak season amidst a global pandemic.

FORECAST, PLAN, COMMUNICATE, REPEAT

As the rush starts from Black Friday all the way through Christmas Eve – it is important to create a model based on volume at unit and order level during this critical period weekly forecasts for each channel the business is operating in.

Understanding the projections for Q4 is critical for businesses before arriving at peak season. Data from the past few quarters extrapolated, along with data trends from previous holiday seasons, will help to provide more precise order forecasts.

Frequent forecasting also helps the business and 3pl service providers like MGH create a solid line of communication with all parties leading to effective strategies implementation and highest profits for all the parties.

TRANSIT TIME – A ROUTE TO COMPETITIVE ADVANTAGE

Transit time is critical for holiday shipments. Getting in touch early with logistics providers is essential to prevent delays and respond to unanticipated such as navigating customs clearance and documentation.

Partnering with companies like MGH who are known for their speedy deliveries, and strong global networks across multiple origins from the moment the product has been picked up from the factory, to it being delivered to the customer is crucial to businesses.

MANAGE HIGH VOLATILE RATES IN THE MARKET 

The 2020 freight market has seen rates increase on certain lanes by 50%, and even more across multiple origins which are extraordinarily hard to deal with for everyone. This year’s uncertainty makes it difficult for the shippers to forecast effectively which results in payment of higher prices. This is when experts like MGH Logistics can play a major role by diversifying the shipping methods between air, ocean, land, rail and other modes according to pricing and demand.

TECHNOLOGY TAKES THE WHEEL

The rapidly changing logistics market and the environment have stressed the need for advance tech solutions as a way to better plan and manage the supply chain process. 3PL providers like MGH Logistics give clients the benefits of upgraded technology by providing access to visible tracking, help in reducing freight spend and get freight moving. Advanced technologies to take care of inventory and warehouse management systems provide firms with an edge when it comes to planning inventory demand and accurately forecasting as per requirement.

It is a secured bet to conclude that the rates can stay at current levels or may even move higher in the forthcoming quarter of 2021 while the volumes may remain at a deficit for successive 6-8 months, suggesting the supply chain managers stay updated with all possible resources to survive, which we will curate to make everyone’s lives easier.

Stay ahead of the curve and learn from the specialists by following us as we’ll continue to provide logistics and supply chain updates and tips to make sure your businesses succeed!



Get in touch at contact@mghgroup.com today
 

 

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