Late last year, a new business venture was launched: Zirks.
A spin-off of Cleveland-based Earnest Machine, a global importer, master distributor, and manufacturer of fasteners, Zirks was created to solve the industry’s most difficult challenge: reducing lead times on commoditized items without increasing cost.
Zirks is an importing platform that aims to empower supply-chain managers to reduce expenses and increase efficiency in the face of increasing tariff and supply chain logistics costs. This is particularly relevant this year, given the ongoing COVID-19 pandemic.
The Zirks model solves such problems by making full containers of commoditized fasteners available for instant purchase the moment they’re on the water. Through a transparent, customer-driven online portal, buyers control their own pricing and timing, based on how much they buy and when they buy it, even if it’s a single pallet.
Although there are concerns about how easy it is for a supply chain is to break down (especially during a global pandemic), there are some lessons to be learned.
Zirks offers three ideas that can be learn about how to manage supply chains in a current and post-coronavirus world:
1 Know where you’re getting your product. Supply-chain managers who may have only focused one or two levels down in their supply chains will now have to track even deeper into their processes.
2. Diversify where you get your product. While it might take more time upfront to vet new sources, it will save you time in the long run if another disruption takes place.
3. Anticipate customer demand. Companies will have to plan how they will handle customer demand…and whatever they decide, they need to be specific and consistent for long-term survival.
Read the full article from Zirks here.