Businesses are struggling to get their supplies in time during the lockdowns in New Zealand and overseas.
The flow of raw materials and finished goods has slowed down or even temporarily stopped due to work restrictions, shipping delays, and disruptions to manufacturing worldwide. Businesses are often unable to do their job due to missing materials, staff shortages and constant new challenges that are thrown at them.
The delays in the supply chain become increasingly costly to companies, especially those who are unable to source any of their required products due to lockdowns. Without the necessary equipment, they often have to leave work halfway, be unable to start it, which leads to more delays in their workload and a reduced income.
It is a good time to review your suppliers and see if there are any alternatives that may be able to get the specific material or completed product to you even during Covid restrictions. It is crucial for businesses to make their supply chains more resilient, collaborative and networked during this time. Looking at local suppliers, for example, could be a simpler way to access the supplies that you need during border closures and shipping delays.
Affinity Accounting, a Wellington-based accounting firm, can support your business’ financial decisions even during these difficult times. Get in touch with us if you are struggling to control your financials during the pandemic, and we will be happy to give you some tips and tricks about business planning.
For more information, visit our website at https://affinityaccounting.co.nz/.