COVID-19. You can’t turn on the TV, read a newspaper, or get on social media without someone talking about the pandemic. Whether it’s bad news, very bad news, or stories about toilet paper hoarding, this newest strain of coronavirus is affecting our very way of life.

And, unfortunately, supply chains are not immune to the virus. Hundreds of articles have come out (and here’s one more) discussing the supply chain disruption, with companies announcing manufacturing and shipping delays or outright closing of plants. To add to that, businesses are seeing less global demand due to fear and distancing, which can bring about long-term damage.

The fear is real. It is strong. And there doesn’t seem to be an end in sight.

But, not all is lost. While people talk about how flimsy our current supply chain is to break down so easily, there are some things we can learn about the global pandemic.

Here are 3 lessons we can learn about how to manage supply chains in a post-coronavirus world:

For supply chains, living with uncertainty is just a part of the job. Delayed logistics, shortages and increased tariffs are all things that have gone wrong in supply chains. And, of course, all of these challenges cost money. In fact, it’s probably not surprising to learn that suppliers can blow through their annual budgets within the first quarter.

With the new year in full swing, most of us have made resolutions: lose weight; move more; be kind; whatever we think we need to be better. Businesses are no exception. We’re always looking for better ways to do things. Why waste time on outdated systems if there’s something better? You don’t see people reverting to music on 8-tracks instead of streaming services, do you?

So, let’s talk about lead time. In this industry, we live and die by lead times. The math is simple, the shorter your lead time, the quicker you make money. Too much lead time and you run the risk of losing a sale. And, if we’re in for another recession like some have predicted, we need to constantly think about making money and keeping our existing customers happy.

Here are 3 things shorter lead times can mean for the financial health of your business:

As we've discussed in other articles and in our recent webinar, the numbers don't lie when it comes to adding gross margin on fastener imports. The infographic below gives you a quick and dirty visual of how you can import your commodities faster, cheaper and just plain smarter.

Yesterday, we hosted our very first webinar, introducing the Zirks model to the public. Hello, world!

Since our inception, people have had a hard time associating Zirks with our parent company, global importer and master distributor, Earnest Machine. As our President, Kirk Zehnder, likes to joke, “in 2009, the idea was born… 10 years later, it launched.”

Cutting expenses can sometimes be the only name of the game in business. When importing commodities from overseas, there are a lot of extra costs to consider in addition to procuring the product itself. Some are within your control, some are not. This blog post will cover a few of these operating expenses and how you can effectively cut down on these costs.

Importing commercial goods from overseas for resale is cumbersome, stressful, and expensive. It’s been this way for many years and continues to be a hot-button issue for supply chain managers in the U.S. and all around the world.

Vendor managed inventory, or VMI, is a business model used within the supply chain that puts the supplier, or “vendor”, in charge of managing a manufacturer’s inventory. While it can produce a lean supply chain, reducing inventory carrying costs and increasing margins, the manufacturer must give up some control, relying on its vendor to determine the when/where/how much of their stock.