Top 10 Festive Season Best Practices for International Business

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The global supply chain saw over 11,642 disruptions in 2021, with North America suffering the highest percentage of disruption. The latest disruptions are caused by the Ukraine war, natural disasters, transportation issues, semiconductor shortages, price fluctuations, cyberattacks and more, which are expected to continue during the 2023 festive season. Over 71% of global companies saw raw material sourcing costs as their primary supply chain threat in 2023.

Festive Season Best Practices
Global analysts at KPMG recommend that businesses should improve supply chain planning capability, agile response to disruptions, and constant visibility of real-time indicators to overcome disruptions.

Here, we bring you the top practices to sustain disruption during the upcoming festive seasons.

10 Best Practices for International Business this Festive Season
According to the Global Supply Chain Pressure Index (GSCPI), in September 2023, the colombia phone number list GSCPI rose to -0.69, a seven-month high from August’s -1.08. This implies supply chain disruptions will pose big challenges in the year ahead. To manage such disruptions, your business needs to have the best strategy in place.

Here are the top 10 best practices for international businesses:

Optimising Inventory Forecasting:
International businesses need to have a strategic inventory control plan in place to remain profitable through the festive season. Inventory forecasting helps in preparing and maintaining inventory cost-effectively.