The COVID-19 pandemic may be in the rear view and the economy showing signs of recovery, but the ongoing crisis in the Red Sea and associated impact on trade through the Suez Canal is a stark reminder that supply chain disruption isn’t going anywhere.
While it might be easy to discount the importance of visibility when things are running smoothly, times like these remind us of the importance of investing in robust situational awareness to steer us through crises.
Supply chain visibility as a crisis management tool
Crisis management is made up of two primary components: assessing the problem and developing a response. The speed and accuracy with which you can assess the scope of the problem determines how efficiently and effectively you can manage the fallout.
In a situation like the one currently unfolding in the Red Sea, the problem assessment stage likely includes getting answers to questions like:
- How many shipments are affected?
- What specific SKUs and POs are at risk?
- How are these shipments being rerouted?
- What are the new ETAs?
Supply chain visibility solutions like Beacon aggregate data from a wide network of sources to put all this information at your fingertips, providing on-demand situational awareness.
Not having to waste time gathering information, you can quickly shift focus to the aspect of crisis management that ultimately determines its impact on your business – the response. With a good understanding of what’s happening, you’ll be equipped to:
- Analyze on-hand stock levels against open orders for at risk SKUs to determine expected shortfall quantities
- Rebook road haul pickups at port and warehouse slots
- Communicate at risk orders to customers and/or buying teams
- Work with suppliers to expedite freight by air
Need help managing the ongoing Red Sea crisis?
We’re offering free assistance to shippers as they manage the Red Sea crisis. Email us at firstname.lastname@example.org with up to 50 impacted container numbers and we’ll share a Live Board to give you a real-time view of your freight along with current ETAs.