Supply chain issues: can you bring things closer to home?
The Albert O’Connor & Co Accountants team know that global supply chain challenges are changing the reality of doing business. It’s increasingly tough to source raw materials, supplies and products in the right quantities. And when your supply chain breaks down in this way, that can have serious consequences for your business.
So how do you combat the supply chain problems, while also tackling the additional issues of increasing costs, rising inflation, climate change and a forecasted global slowdown? One way is to de-globalise your supply chain, as we’ll explain.
A move to local supply chains and greener operations
De-globalising your supply chain and ‘going local’ with your providers is one key option. And the Albert O’Connor & Co Accountants believe that by de-globalising your supply chain you can:
- Switch to local suppliers – review your current supplier network and gauge how reliant you are on international and overseas providers. Where possible, build a local supply chain that removes some of the key problems of being reliant on an international supplier network.
- Cut down on delivery times – If you can find suppliers who are based closer to you, you might be able to cut down on delivery times and speed up the efficiency of the whole supply chain.
- Reduce the cost of logistics – shipping, air freight and logistics costs can all be slimmed down if you’re working with a local supplier. The additional logistics costs of being part of a globalised chain can be significant. Choosing a local supplier removes some of these costs entirely, and reduces your main delivery expenses.
- Reduce your carbon footprint – one of the big drivers of going local is the business focus on becoming greener and more sustainable. By going local, you reduce the air miles that your supplies cover. This cuts back your logistics-driven carbon footprint and helps you meet your sustainability targets. Which is good for marketing too!
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