BSC Small Business Growth

Supply Chain Management can help you to weather the challenges that the world throws at us every day. During the Covid19 pandemic we experienced severe interruptions of our supply chains.  Shortages ensued and prices rose starting a worldwide inflation spiral. It is important to understand the supply chain issues and source materials (raw materials, components, finished goods, etc.) in a way that will mitigate your risks.   For starters, there are 2 competing philosophies.   On the one hand, some researchers recommend that you select your best supplier, we will discuss supplier selection in a moment, and develop a strong, mutually beneficial relationship.   The supplier will have reasonable stable volumes and will do its best to fulfill your orders first when goods are in short supply.   At the same time you get leverage that allows you to negotiate better pricing. The other argument, and the one I tend to endorse is to build resiliency into the supply chain, by finding multiple

  This is the 3 rd post in the series.   In my 1 st post, I talked about developing ideas for your new business and then vetting your idea to see if it seems reasonable.   The 2 nd post dealt with learning about the industry you will be competing in.   Feel free to go back and read the older posts if you want and, of course, if you have any questions or suggestions, you reach out to me anytime via my email address brian@brianshube.com So the next, I think this is a good time to drill down a little further and start to understand how you will turn your idea into a business.   It is important to remember that nothing you are/will be doing is chiseled in stone.   In fact, I would be shocked if all or even most of decisions that you make early in the process actually survive unchanged by the time you are up and running.   There is no shame in going back and making changes.   In fact I strongly recommend reviewing your plan frequently.   I have been in business for over 25 years and I