Whether you are renovating your house, buying a new bike or looking to order branded t-shirts for your team, there’s one thing in common these days: supply chain issues.
Due to COVID, global disruptions have caused inventory levels to be decimated since the supply chain is not fully up-to-speed. It’s hard to have proper supply and demand equilibrium with the wild swings that have occurred in the last year. You’ve probably noticed it across many industries, and the promo industry has not been spared.
When will things be “normal”? Experts say it might not be until the end of the year, at minimum.
It’s frustrating, and there’s a good chance it could disrupt your next event. Luckily, we’ve got some tips to help
Here’s what to do…
TIP #1) PLAN AND ORDER AHEAD OF TIME.
This one is a no-brainer because if you order ahead of time then your product is in-house and you don’t have to worry about inventory levels. Get your team motivated by this looming issue so that you can break through decision paralysis. Move early and, like Kermit, you can sip on your tea while everyone else scrambles.
TIP #2) BE FLEXIBLE.
I know you had your heart set on that brand and that color, but it’s simply not going to be in stock for 3 months. If you’re willing to pivot to something else, it opens up a whole host of new possibilities. Flexibility is a super power in the face of uncertainty.
TIP #3) DO NOT ADVERTISE A PRODUCT YOU DO NOT POSSESS.
This goes hand in hand with #1. If you are going to advertise that the first 100 people get a Herschel backpack at your event then you better guarantee you have it in your possession.
Tip #3A) You can always order the backpacks ahead of time and then we can decorate them later!
TIP #4) ASK FOR AN UPDATED QUOTE.
If you are re-ordering a product you ordered last year, or you’ve held on to a new estimate for many months, then I suggest you get an updated quote. Virtually every vendor has suffered from increased material costs, and shipping companies have increased their rates as well.
Side note: Blezoo always confirms pricing before we proceed with an order, so you don’t need to worry about an invoice surprise down the road from us.
TIP #5) ORDER MORE THAN YOU THINK YOU NEED.
Leave it to a Greek (me) to tell you to order more than you think you need, but I will tell you the last thing my culture would let me do is run out of food at a party. The same thing goes for your promo needs! With dwindling inventory levels there may not be a chance for a reorder, so stock up and forecast demand. You’ll thank me later.
This is going to be a wild event season coming up. Pent-up demand like we’ve never seen before. These tips are a cautionary tale for what is on the horizon. May the odds be ever in your favor.
Take us up on TIP #1, and click below to get started!