by Ellie Gabel
Supply chain disruptions have become increasingly common over the past few years. They can come from international trade tensions, natural disasters, port congestion and many other factors, and they are not just an issue for businesses.
Consumers should be aware of these trade issues, too, as they may lead to shipment delays, stock-outs and price hikes for many items. Given the current global trade landscape and the looming threat of high tariffs, it is time to prepare for disruption. Even if people cannot resolve a supply chain challenge, they can act ahead of time to minimize the impact on themselves and their families.
Stock Up on Lasting Goods
The first step is to buy long-lasting products in bulk before inventory issues and price increases hit. Food products like dry grains and canned fruits and vegetables are obvious targets, but 85% of U.S. food purchases come from domestic sources, so they may be less affected than other items. Things like coffee and many fruits that cannot grow in the U.S. will almost certainly see price hikes.
Other — sometimes more easily missed — items to stock up on include cleaning supplies, paper products, construction materials and pet food. Medicine is another crucial category. The nation imports many of its key pharmaceutical ingredients, so over-the-counter medications often see shortages amid supply chain disruptions.
Maintain Expensive Assets Before Disruption Hits
Large purchases like vehicles and home appliances also suffer some of the most significant supply chain effects. These items are particularly prone to material shortages and price increases, such as the proposed 50% tariff on steel imports. Consequently, it’s a good time to buy these items now if an upgrade is already on the horizon.
Expensive assets deserve attention even when people do not intend to replace them soon. Repairs may become more expensive if replacement parts and materials grow too costly or difficult to acquire. People should take the time to perform regular maintenance — like getting an oil change, equipping cars with new tires and servicing washing machines — before disruption hits.
Recognize Which Products Will See the Biggest Effects
Every supply chain issue is unique, so preparing for delays and stock-outs also entails some case-specific steps. The effects will vary between products depending on which exporting nations are affected and how U.S. importers and downstream businesses react. Many manufacturers now carry 10% more stock than target levels to prevent shortages, which may be enough for some items but not other high-demand ones.
The only way to be ready is to monitor global trade factors and company actions to predict which products will experience the most severe consequences. When a nation appears in the news for supply chain concerns, consumers can look up its main exports to the U.S. to gain a better understanding of potential disruptions. People should remember that raw materials like metals and minerals may impact U.S.-manufactured goods, too.
Consider Alternatives to Frequently Bought Items
Sometimes, the best course of action is not to stock up but to find more readily available alternatives. Homemade versions of off-the-shelf goods are a good example. Ready-made detergents, lawn care products and cleaning supplies may see price hikes, but consumers can make effective replacements with many domestic base materials and agricultural products.
Consumers can look for baking substitutes and consider whether some frequently bought products are really necessary. Alternative ways to store and preserve things with limited shelf lives deserve attention, too. Freeze-drying reduces critical factors in microbial growth and is sometimes possible at home, allowing families to store goods for extended periods that would otherwise go bad.
Monitor the Situation
Finally, people must recognize that supply chain situations can change rapidly. Disruptions can arise unexpectedly, and companies take an average of two weeks to respond, so the full, real-world impact is not always immediately evident. The key to staying relatively steady over time is monitoring how things progress and adapting as necessary.
In some cases, situations will resolve themselves quickly, making it more responsible to avoid overstocking some goods. At other times, things may last longer than anticipated, requiring a new approach, such as using alternatives instead of buying supplies in bulk. The best path forward changes in every circumstance, so information is essential.
Supply Chain Disruptions Demand Action
Supply chain disruptions affect everyone, not just those in charge of manufacturing and logistics. Consequently, everyone must learn how these obstacles impact them and how to prepare for them. Once people understand how to react ahead of time, they can weather even the most disruptive supply issues.
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Photo by Ian Taylor on Unsplash
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