Complete Story
10/12/2021
033. Managing Your Inventory and Supply Chain in a Chaotic Business World
Presenter: Jon Schreibfeder & Matt Schreibfeder
Level of Complexity: Intermediate
9:30 AM - 11:00 AM
Distributors face a multitude of business challenges today. Sales of some products is skyrocketing while demand for other products is plummeting. Frequently vendors cannot ship needed inventory in a timely manner. Transportation issues are resulting in delays in receiving replenishment shipments. Often you need to decide how much to buy before a vendor price increase and evaluate alternate sources of supply. In addition to these replenishment issues, there are many challenges in maintaining a safe work environment while filling customer orders in a timely manner. In fact, composition of these orders may have significantly changed with the boom of e-commerce. In this session we will discuss what distributors can do to address these challenges, how to evaluate possible supply alternatives, and adjust replenishment policies and procedures during the gradual recovery from the pandemic. Most important of all we will discuss how to prepare for future, unknown, marketplace disruptions.
Tariffs, government regulations, changes in supplier performance, transportation disruptions, and many other evolving situations present distributors with a number of challenges:
- Demand of some products is skyrocketing while demand for other products is plummeting.
- Certain stock products are not available, forcing buyers to search for acceptable substitutes.
- Frequently vendors cannot ship what they previously supplied in a timely manner.
- New competitors are entering the market.
- Transportation issues are resulting in delays in receiving replenishment shipments. In this session we will explore how organizations can:
- How to best forecast future demand of products in these uncertain times.
- Calculate anticipated lead times that reflect how long it will actually take to receive replenishment shipments.
- Determine inventory levels that will balance your desired level of customer service (i.e., avoidance of stockouts), your investment in stock inventory, and maximize your net profitability.
- How much to buy when presented with special opportunities.
- Dealing with tariffs, vendor issues, and other supply chain disruptions.
- Set inventory related goals and measure your progress in achieving them.
Bookstore
Selling Through Tough Times
Paul Reilly
As a sales professional, you know that it’s harder to sell in tough times―whether it’s a recession, industry-wide challenge, or global pandemic. You may also have noticed that some salespeople and managers not only survive but thrive through tough times. How do they do it? What do they do to thrive through adversity?
Paul Reilly explains it all in Selling Through Tough Times: Customers buy differently in tough times, so salespeople need to sell differently in tough times. In this eye-opening and indispensable guide, he shows how to develop the right mindset and adapt your skills to prevail in even the most challenging selling climate. His plan includes both immediate, hands-on action plans (including six Daily Mental Flex activities) as well as longer-range strategies to ensure you (and your team) never get caught on the back foot again.
While the principles of selling are constant, Reilly demonstrates how changing your tactics in tough times will not only help you through current difficulties but help you emerge stronger. You’ll discover how to redefine value in customer terms, reposition products and services, and how employ different persuasion tactics. You’ll also learn how to select and pursue the right opportunities, win more deals, and―crucially―protect profit by embracing the “tough timers” mental attitude.
Tough times are inevitable and often unpredictable. But in Selling Through Tough Times, you’ll find the tools and mindset you need to power through them―and come out on top.
Visit www.ToughTimer.com and complete the 30-Day Tough-Timer Challenge.
