When met with unprecedented demand, many logistics businesses struggle to keep up.
Major companies that depend on supply chains are often placed in an awkward position when faced with high demand. They might be scrambling to find enough trucks to dispatch orders, enough supply to meet the demand, and overall keep their businesses running at a standard that will meet procurement demands.
Here are three steps you can take when your business needs to meet unexpected demand.
When it comes to your fleet, make sure you have a back-up
By ensuring that you have a back-up if all of your vehicles are occupied, you can hugely mitigate the damage when you’re flooded with demand.
Rentco offers transport equipment rental for clients of all industries, so that you have support. More and more, companies are moving towards rental rather than purchase for commercial vehicles, as it provides flexibility and efficiency that purchase doesn’t offer.
It also means that your equipment’s safety and standards are supported by Rentco. Your equipment will adhere to strict servicing schedules and standards, and we will have your back 24/7.
This isn’t restricted to truck hire. We also offer transport equipment hire across light vehicles, trailers and flat racks. If there’s a piece of equipment that you’re looking for, and we don’t have one on hand, chances are that we can source it for you.
Make sure you have visibility over your supply chain
If your supply chain is managed down to the supplier, you will know exactly where you need to dedicate people or vehicles, and identify any potential vulnerabilities.
You might know that you need to source trucks to support your logistics issues, but not have enough visibility to see where exactly they need to go and where they’ll have the best benefit.
In addition, while some sudden demand spikes are impossible to forecast, supply chain visibility ensures that you are as informed as possible and can foresee any issues before they become a business-wide problem.
Fostering great relationships with distributors and suppliers can also support this and ensure that your supply is as managed as possible and that you will be supported when things become busy.
Be strategic and keep your customers informed
At Rentco, we put our clients first. Keeping your customers informed and involved ensures that they won’t feel isolated, confused and helpless. Talking to your customers means you know their wants, needs, and are informed when there’s a surge in demand.
Whether a distributor, supplier or client, it’s important to maintain good relationships and ensure that information is flowing easily.
No matter how mature your supply chain, you will always be challenged by demand variability. The best thing that you can do is ensure that you’re ready, informed and have a back-up plan.
The most important thing? Be ready
If you’re always ready for fluctuations in demand, you’ll be prepared.
Being agile enough to meet demand and fulfil inventory without over-allowing is difficult, and it’s something that many companies fall victim to. Using flexible solutions is the key to ensuring you’re prepared.
If you’re in need of more transport equipment, for example, the best option may be to source your equipment from a transport equipment rental company such as Rentco, rather than buy it upfront and potentially regret it when demand dwindles.
You can’t always know what will happen in the future - that’s why our forecasting numbers are only forecasts. By tightly monitoring your supply chain and being prepared across your entire business for any unexpected changes, you can be sure that you won’t be taken by surprise.
Do you need equipment hire fast? You can talk to one of the Rentco team to source transport equipment, no matter where you are in Australia. Head to our website to get in touch with your local Rentco depot.