To keep inventory on track amid supplier delays, proactively adjust order quantities and reorder points based on updated lead times, increasing safety stock for critical items if feasible. Diversify your supply base to include backup suppliers who can fill gaps, even if at a higher cost, to reduce dependence on a single source. Enhance communication with suppliers to receive regular updates on shipment timelines and collaborate on potential solutions, such as expedited shipping or partial shipments. Internally, prioritize inventory allocation to high-demand or high-margin products, and consider adjusting production schedules to focus on items with stable inventory, ensuring minimal disruption to key operations and customer commitments.

To keep inventory on track despite supplier delays, it’s essential to build safety stock for critical items, diversify suppliers to reduce dependency, and improve demand forecasting to adjust order timing. Clear, proactive communication with suppliers can help anticipate delays, enabling better planning and the use of contingency options, like pre-approved backup suppliers. Additionally, implementing inventory management software can streamline stock tracking, reorder alerts, and decision-making.

Review and adjust reorder points. Based on supplier lead time and inventory coverage. Forecast regularly to predict the trend and inventory coverage. Develop supplier performance review to ensure they meet or exceed expectations, maintain high standards and build relationships.

Relationship is the word of the day. For any given stock item, pain points are always on the horizon. Backorder, bottlenecks, Mergers and lack of raw materials, and natural disasters make diversification of suppliers a necessity. Whenever you order supplies, you must always prepare for the time between deliveries. Space, time, cost generally dictate your best option. Your network, your vendors, and bartering with out of network competitors. The process is less painful, when you have pre-existing relationships.

For parts replaced prior to failure (Preventative Maintenance), if not already done, optimize your maintenance program so that the demand for the part is reduced by maximizing part useful life. Where affordable, this can be done by increasing the frequency of Preventative Maintenance inspections. This approach may prove more cost effective compared to increasing the Safety Stock.