Chinese New Year is a major holiday observed by over a billion people. As such, it has the potential to seriously impact your supply chain operations. While Chinese New Year is in January, successful importers start planning for it as early as May.
As an international shipper, it pays to know when big holidays are coming up. Not unlike Golden Week, Chinese New Year is a significant holiday in China. Also known as Lunar New Year or Spring Festival, the holiday often sees Chinese families enjoying travel, food and gifts. The holiday itself lasts approximately 16 days, during which time shops will be closed for at least five days. However, some businesses shut down for several weeks.
If any part of your supply chain involves China, you can anticipate delays and increased shipping rates during that time period. Instead of casting your business adrift in the sea of unpredictability, why not be prepared for Chinese New Year?
When it comes to Chinese New Year and the supply chain, you can safely expect the following four things to happen:
Any one of the above has the potential to seriously put a dent in your supply chain operations if you are not prepared for it; if all happen at once, you might face a big challenge. Advance planning and preparation are the best way to reduce your risk.
Planning ahead and taking a proactive approach is baked into everything we do here at Cole International and we encourage you to take a similar approach. By preparing well in advance of Chinese New Year, you ensure you will not be caught off guard and potentially avoid any disruptions to production or delivery during that time.
Here are our top tips for planning effectively:
Major national holidays like Chinese New Year can throw a heavy wrench into your supply chain processes if you are unprepared. Taking a proactive approach and planning ahead is one path to success. At Cole, not only do we help you prepare for what's coming, we adapt to how your company works. If you make a change in your supply chain operations, we support you by providing the best viable guidance and solutions for that change. Connect with us today.