Widespread backlogs in the global supply chain are becoming a serious hindrance in retail cycles. Surplus demand from consumers returning to pre-pandemic purchasing levels is causing backlogs in production, culminating in substantial shortages. Shipment delays have exposed bottlenecks in the global supply chain. Port congestion and unusually long waiting times for docking is largely symptomatic of the predominant issues in the modern-day supply chain, or supply web as referred to by researchers. Marketing departments are now in desperate straits, unable to market inventory they do not yet have access to. Given the stakes, it’s important marketers are well-equipped to weather the storm for the foreseeable future. Here’s what you, the ever-aspiring marketer, need to know to stay ahead of the curve:
How has this happened?
The global supply chain crisis boils down to surprising resurgence in consumer demand. Producers, inundated with excess [and unanticipated] demand, encountered shortages in inputs, freighters faced port congestion, and soaring shipping prices. Long-term supply-chain management and distribution channel solutions aren’t typically devised overnight. And though we are in dire need of developments in this domain, immediate fixes from adjacent areas in the marketing value chain make for, arguably, the more pragmatic approach in the short-term until true distribution solutions are born.
What can marketing do?
Dynamic shifts in consumer demand make for a challenging assessment of current demand trajectories. Truth be told, there are no real benchmarks for demand in scenarios comparable to the pandemic. Nonetheless, there are two strategies marketers may deploy: AI analytics, and pre-meditated promotions.
By utilizing artificial intelligence and machine learning technology, predictive analysis of consumer demand trends may be significantly enhanced, in terms of precision and reliability as the unpredictability reigns supreme in a post-pandemic transitionary period.
Early promotions constitute the second strategy. The holiday season is soon approaching, so too are the countless sales and promotional runs. To prepare for a further surge in demand towards the end of November, holiday season promotions may be advertised prematurely during November. Scarce inventory is carefully dissolved, along with advancing the company’s understanding of near-future demand prospects through pre-orders.
InsightzClub is uniquely positioned to provide its clients with actionable and intelligent insights, based off AI analytics. Reach out to us and find out how you can always stay three steps ahead of the curve.