Five Ways Supplement Brands Can Overcome the Supply Chain Crisis

Everyone knows that the supplement industry supply chain is a total mess right now, but crawling into the fetal position and crying yourself to sleep nightly isn’t going to help your supplement brand. I guess I should take a step back and explain what I mean when I talk about supply chain challenges in the CPG industry, what are we trying to solve? At the core, it’s about keeping inventory on shelves (physical or digital). Yes, skyrocketing inflationary costs are also a major problem, but higher costs can be managed more effectively with various strategic levers. In the CPG industry, out of stock products are the cardinal sin and extended out of stock situations leave you out of business in a hurry. This is especially true right now when many consumers aren’t hesitating to shop elsewhere if their favorite products are out of stock. Over 60 percent of consumers have been unable to buy at least one item due to availability over the past three months, with only 13 percent saying they waited for the item to be back in stock. Consumers have tons of substitutes in the market for your supplement CPG products and brand loyalty is at an all-time low. So, what are five short-term fixes and/or long-term planning solutions that can help you combat these supply chain challenges... Supplement Industry Supply Chain Situation Update = https://youtu.be/gJ95Ox3OVx8 FOLLOW ME ON MY SOCIAL MEDIA ACCOUNTS LINKEDIN - https://www.linkedin.com/in/joshuaschallmba TWITTER - https://www.twitter.com/joshua_schall INSTAGRAM - https://www.instagram.com/joshua_schall FACEBOOK - https://www.facebook.com/jschallconsulting MEDIUM - https://www.medium.com/@joshuaschall