Sourcing from China? Prepare Your Supply Chain for Lunar New Year 2024
If you source your brand’s products from Chinese manufacturers, it’s important to be aware of the Lunar New Year (also called Chinese New Year) and how it will affect your supply chain. During the 2024 Lunar New Year, which falls on February 9-15, 2024, factories will shut down, shipping will slow, and product defects may increase. Not only does that create difficulty around the Lunar New Year, but it can also make it more difficult for you to get the inventory you need in the period immediately before the holiday, when some facilities may limit production, and after the holiday, when it takes time for many factories to ramp back up to full production.
Is your supply chain prepared for the 2024 Lunar New Year? Make sure you follow these steps to keep your business running smoothly.
1. Know Your Inventory Needs in Advance
The first step in preparing your supply chain for Lunar New Year 2024 is to carefully evaluate what inventory you will need in the months before and after the holiday. Make note of any areas where you might currently be running low and use historical data to help you forecast demand during January, February, and March of next year.
Make sure you take a full evaluation well ahead of time so that you can increase your orders in the months before the holiday, if needed. Ensuring that you have extra inventory on hand can help carry you through the supply chain disruptions more successfully.
2. Communicate With Your Suppliers
Don’t make assumptions about your suppliers’ availability. Instead, communicate with them ahead of time. How long will the suppliers you work with be shut down during Lunar New Year 2024? Are there any specific concerns about product availability or shipping? Your suppliers likely have a solid understanding of how the holiday will impact their productivity and delivery schedules, based on how past holidays have impacted those critical elements.
3. Book Shipments in Advance
Don’t wait until the last minute to book your shipments. Ports will have limited operation capacity during the shutdown, creating longer shipping times and limited availability before and after the festivities. By booking ahead of time, you increase the odds that your deliveries will come in on time.
4. Work With Third-party Inspectors
Collaborating with third-party quality control inspectors is a valuable strategy to fortify your supply chain during the 2024 Lunar New Year. These professionals bring several advantages to the table, ensuring that the quality of your products remains uncompromised even when factories are short-staffed or rushing to fulfill orders in the post-holiday period.
Moreover, third-party inspectors can help you meet your shipping deadlines by verifying that your orders will be ready on time both before and after Chinese New Year 2024. Their presence becomes especially invaluable during this time because factory staff may be overwhelmed or less reliable due to the holiday rush.
Optimize Your Supply Chain During Lunar New Year 2024 with AQF
At Asia Quality Focus (AQF), we offer comprehensive quality inspection services and supplier audits in China and all other major manufacturing hubs. Our services provide immense benefits during Chinese New Year and beyond, ensuring that you receive high-quality products consistently throughout the year. By partnering with us, you can navigate the supply chain challenges of the 2024 Lunar New Year with confidence.
Contact us today to learn more about how we can support your supply chain and safeguard your product quality. Don’t leave your supply chain unprepared — make AQF your trusted partner in navigating the complexities of the 2024 Chinese New Year holiday season.