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Hear from Danny McMillan, Founder Seller Sessions, Kian Golzari, Product Sourcing The NBA, and Steven Simonson, supply chain expert, as they lead a candid discussion around how the pandemic has hit supply chain resources and how major brands are navigating these challenges.
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Diversification and making the most of close supplier relationships are two of the most important strategies for dealing with the challenges of supply chain resources as a result of COVID-19.
Linn Academy 2020’s panel session on the supply chain was hosted by Danny McMillan, founder of Seller Sessions. He was joined by Kian Golzari, responsible for product sourcing for businesses including The NBA, as well as supply chain expert Steven Simonson.
Simonson said initial supply chain problems were evident in January when China was first starting to shut down. By the time factories reopened ships were scarce and then a halt on movement of people followed. “We had to pivot into a lot of different solutions,” he admitted.
Being able to not visit places like China to see manufacturers meant challenges in sourcing products, while the closure of retail stores impacted where those products were sold, agreed Golzari.
Online and established supplier relationships provided a lifeline during the pandemic.
Simonson said his business coped by bringing in outside help - such as a global inspection team with people local to each country - and paying close attention to the path of supply chains. “We found by literally diagramming every individual product supply chain we were able to find solutions,” he said.
Golzari said online proved a lifeline for sourcing during the pandemic but that the biggest benefits had come from already established supplier relationships, built up over time. Both Golzari and Simonson said this meant they were able to liaise with suppliers to see how each party could support the other. “In many cases we’ve been able to get better terms during this situation,” said Simonson.
Golzari agreed: “COVID-19 puts a magnifying glass on the relationships we have with our factories,” he said. “This is the time when you reap those rewards.”
The trio also talked about pivoting into new products. Kian suggested looking at going super specific on niches, such as producing fitness products for children or the elderly when the home fitness trend hit.
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