Currys today announced its peak period trading results, citing supply chain issues for a “challenging” Christmas. Further profit losses are almost certain if supply chain issues continue.
Five years ago, supply chain management wasn’t an issue that would’ve sparked much interest or debate beyond those involved directly in its delivery. Now, it’s a different story. Unfortunately, many companies’ last-ditch efforts to meet expected earnings during the peak holiday retail season have fallen short. Key component supplies and acute congestion issues, especially at US and UK ports, constrained retailers’ ability to meet swelling consumer demand.
With supply chain issues expected to continue this year, companies need to be proactive to mitigate the impact. Supply chain visibility should be a first step. The technology is now not a ‘nice-to-have’, instead an essential facet of today’s supply chain that must be able to flex and adapt to a world where change is inevitable.