Sure, it's only the middle of September and you're probably more thinking more about your fantasy football team than a Chinese holiday that doesn't even take place until January 25 of NEXT year, but put down your Yahoo Sports app for just a minute and do your company a favor by downloading our Chinese New Year Guide: 2020.
This isn't our first CNY rodeo, and we've compiled our best 10 tips to make sure you get through the holiday without any shortages in inventory. Our experience tells us that you should conservatively plan for no production or shipments leaving China during late January through the majority of February and for reduced output during the first half of March 2020.
Make sure you check with your manufacturer for deadlines. Our customers, for example, need to have any PO or forecast changes to us by the middle of October. If not, you'll be panicking, while the workers who are normally making your product are probably busy doing one or more of the following:
- Setting off firecrackers to ward off the half-dragon, half-lion monster Nian
- Watching an acrobatic lion dance
- Enjoying a reunion dinner with family back home
- Not concerning themselves with your lack of inventory
Getting a plan in place for your supply chain ahead of time means CNY could be little more than a passing blip on the screen. You'll breathe a sigh of relief when CNY begins knowing you have a little more product on hand to last through the holiday without causing any disruption to your customers. Don't put off planning until it's too late, start talking with your manufacturing partner today.