Short-Term Strategies to Handle Supply Chain Woes

It certainly feels like we’ve been hearing about supply chain disruptions for nearly as long as we’ve been contending with the COVID-19 pandemic. There is likely not one consumer or business that hasn’t experienced a negative affect from the labor shortages, shipping delays, and stalled manufacturing of those items we love (and the ones we need—remember when toilet paper was nowhere to be found in the first half of 2020?). Out of everyone, business owners might be feeling the pinch most of all. Instead of scrambling to fill orders and keep customers happy, here are 3 short-term strategies business owners can implement right now to weather the supply chain storm.

Keep Customers Informed

When customers do business with you, they expect the truth. Rather than glossing over potential delays in their orders, make sure you’re setting realistic expectations right up front. Consumers are well versed on supply chain issues, so it’s not totally unexpected when things run late. However, it’s bad business to overpromise and underdeliver.

Another method for keeping customers smiling? Offering back-in-stock notifications or suggesting similar items that have less of a lead time than their original choice. Keep the lines of communication open and give multiple options, and you’ll have some very satisfied customers.

Keep Displays Delightful

Nothing can make a customer more leery of purchasing than seeing empty store shelves: It spells bad news. To avoid this, make sure you’re frequently updating displays so they look as full as possible. If you own an online store, it’s easy enough to put a spotlight on the in-stock items that will ship the most quickly. Got a restaurant? Revamp your menu in a way that makes better use of the easily accessible foods at your disposal, rather than the items that may be delayed in delivery.

Keep in Touch with Manufacturers 

There is a middleman when it comes to purchasing goods from manufacturers, and that can exacerbate the supply chain snags we’re already seeing. But with the rise of ecommerce and digital sales, the middleman is starting to get the boot. If your company is able to skip the line and go straight to the manufacturer, this could potentially save a lot of time and money.

ARF Financial has been leading the small-business loan industry for decades, helping secure millions of dollars in loans to help small business owners reach their goals. Once approved, you’ll get quick access to your funds, fixed payments, and flexible terms. Plus, you can defer up to 50 percent of your principal for even lower payments now. Sure, we’ve got best-in-class loan products—but we’ve also always got a great deal on the horizon. Check out our current offers to learn what perks we’re presenting this month!