In a recent interview with Authority Magazine, Chargebacks911 COO Monica Eaton shared her projections and concerns for the future of retail with regard to residual supply chain problems left over from the pandemic.
Authority Magazine, a Medium publication, is devoted to sharing in-depth and interesting interviews featuring people who are authorities in Business, Pop Culture, Wellness, Social Impact, and Tech.
Interviewer Martita Mestey noted that the supply chain crisis is another outgrowth of the pandemic. She asked Monica to share a few examples of what retailers are doing to pivot because of the bottlenecks caused by the supply chain crisis.
“Too few are really changing their operations in response to the supply chain crisis,” Monica replied. “Many think that it is the result of the pandemic, which many consider to be over, or of temporary exogenous events like last year’s Suez Canal obstruction. Instead, it’s important to understand that those events showed the fragility of our global supply chains.”
Monica went on to warn readers that retailers are going to have trouble avoiding those global commerce bottlenecks.
“Can you buy local instead of using cheap overseas suppliers when your customers are overstretched from a global economic downturn? The answer may be to work with other companies in your industry and in the areas you work in to develop your own resilient supply chains.”
When prompted to provide fundamental solutions for this conundrum, Monica urged merchants to be much more resilient. This means moving away from the “just-in-time” approach and moving toward maintaining larger stocks of products in case of further supply chain disruptions.
