The shopping frenzy known as Black Friday is almost here, and while you will probably see lots of stories about long lines and huge crowds tussling over the latest toys, there is another story taking place behind the scenes – one of careful planning, lots of moving parts and plenty of risk. It’s a story of logistics.
The fact is that Black Friday is one of the biggest logistical challenges for retailers and their supply chains. Many companies spend all year analyzing data and building inventories to prepare for the holiday rush. And the stakes are incredibly high – one mishap can throw off a company’s entire supply chain, leading to a major loss in sales for the day and the rest of the year.
While most B2B manufacturers, industrial companies and procurement teams aren’t directly impacted by Black Friday, there are certainly lessons to be learned from the retail world that can help improve efficiency, reduce risks and optimize their supply chains. Here are three of them: