With Lunar New Year (LNY) coming up soon, beginning on the 1st of Feb, it’s hard to plan for the delays that are going to follow. We’re writing a little summary for you, of what to expect and how you can put a plan in place for this time of the year.
The Lunar New Year, or commonly referred to as Chinese New Year is a spring festival which celebrates the beginning of the Chinese calendar, this celebration often continues for just under a week but celebrations can extend until the beginning of the Lantern Festival, which begins later on during the month.
Many businesses across east Asia, such as China will begin closing for the Lunar New Year, allowing for their personnel to be able to celebrate the holiday without the worry of work getting in the way. These closures will spread worldwide, but mainly become a point of disruption for the supply chain due to the holidays significance in east Asian countries.
Why Is There An Issue?
As stated above, the closures of business across Asia will cause disruption across the supply chain due to factories being closed, meaning not only production of stock is put on hold but as a result, so will exportation of stock, packing, palleting as well as every other step that keeps the supply chain rolling.
So, How Do I Prepare For This?
Using your connections, knowledge and ability to plan ahead are all invaluable pieces to the puzzle of navigating your business around the Lunar New Year. We all know that the LNY Is approaching during the same time of year, every year, so using our knowledge and our book of connections we should be able to plan around this issue, even if just for the non-extended 6 day celebration.
Having travel as well as storage solutions put in place around the holiday is the key to keeping the ball rolling, to keep yourself and most importantly, your customers happy.
The key to issues like this are that, taking action and working ahead of time are essential to a smoothly running supply chain over the LNY.
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