Doris Day

Doris Day, an American actress, is also widely known for her 1956 song, Que Sera Sera (Whatever Will Be Will Be). The lyrics continue with, “The future’s not ours to see, Que Sera Sera.”

Perhaps at no time in the recent past has the phrase “the future’s not ours to see” been more germane. With an escalating worldwide trade war intensifying almost daily, businesses are on increasingly unsteady ground. Government policy can appear to be haphazard and opaque.

Planning is Critical

Planning for the future is critical for any business. The odds for success of any plan are largely based on being able to depend on either maintaining the status quo or predicting, based on historical and current trends, what is on the horizon. At present, neither of those routes are available. So, what should we be doing?

You will probably fail if maintaining your current profit margin is your primary objective. For any business to be sustainable in the long term, profits should result from what you do, not simply a goal.

Prioritize Your Customers

With the marketplace so unpredictable, prioritizing the value you provide your customers should be your main objective. Understanding that they are also affected by what is happening, we should seek to understand their situation and be responsive to their needs.

Supply Chain Reliability

One of your business's most unpredictable necessities may be the reliability of your present supply chain. It may not be sustainable, either because of availability or tariff-induced price increases. Identifying local suppliers should be a top priority because they may be more adaptable to disruptions and changes in the market. There are several keys to doing this.

1.     Research – identify potential local suppliers.

2.     Access their capabilities – what are their production capacity, reliability, quality standards, and delivery capabilities?

3.     Supplier development – if local suppliers can not initially meet your requirements, what can you do to help them? Can you share procedures, quality evaluation protocols, and supplier management systems or introduce them to others who can?

4.      Build strong relationships with your suppliers through collaboration and long-term partnerships by bringing other customers to them, such as your clients.

5.     Determine potential benefits and risks, including cost, considering transportation and labor costs and potential economics of scale.

6.     If applicable, explore government incentives such as tax breaks or subsidies supporting the localization of supply chains, such as inner-city development zones.

7.     Be strategic. Be prepared to adapt your supply chain strategies as market conditions and business needs change.

8.     Be part of the solution. Advocate for policies that promote local sourcing and business growth. Also, champion local organizations supporting community businesses, worker training, and charitable groups serving your neighbors and potential customers.

Promote your suppliers and your connections to them. Emphasize your support of local businesses and your community. Increase your visibility through volunteering, mentoring, and sponsorship of local events and teams. Anything you can do to be relevant to your community will be noticeable to your existing and potential customers. These things will become a competitive advantage to help you strive in difficult times.

ASN Is a Reliable Resource

We don’t have a crystal ball to predict the future, but we do understand our clients and the challenges they may face. ASN is one supply chain you can count on in today’s turbulent business climate. We also have a wide range of resources and relationships available to us that we can call upon to assist you. If you would like to discuss how we can help, please give us a call. We would love to talk.