Eliminating Single-Point Failures in a Supply Chain

The pandemic impacted businesses on a global scale. From the onset, it was survival of the fittest supply chain systems, as business owners learned that logistically some systems cannot sustain themselves. The time of uncertainty brought to the surface single-points of failure that completely shut down entire enterprises for a short period, long term, and even forever.

A single point of failure (SPOF) is a flaw in a system, or component of that system, that has the potential risk of leading to a malfunction that causes the entire system to shut down. It could be anything from a risky hire to an undesirable location. Anything that may cause a rift in the processes of the business that will harm the overall structure. Now some SPOFs go unnoticed in the best of times. When the company foundation is strong, when team morale feeds great thinkers plus doers, or when profits are increasing. But many executives would agree that the pandemic was simply the worst of times.

The question is, when SPOFs are revealed, how will your company pivot to exceed or match the previous year’s revenue goals. What can be sacrificed in order to keep the business afloat. In ecommerce, how do you keep your customers happy!

CONSIDER LEAD TIME

Working with overseas manufacturers has been a cost-effective avenue for ecommerce businesses everywhere. However, in the process of configuration, we learn that the process is laden with flaws and mishaps like time difference, language barriers and shipping delays. When you finally learn the lead time for handling business with overseas manufacturers it’s easy to build your entire work system around that entity.

This is a single point of failure. To build your processes around an overseas manufacture allows for major time errors. When that entity has its own SPOF, interruptions or issues than your processes are disrupted as well. A plausible solution is to have a manufacturer in the same country as you to combat timing issue. Doubling up, rather than canceling out either manufacturer can be both cost-effective and timely. For example, the overseas manufacturer can get started on the majority of resources or products that are to be shipped. Halfway into the time it takes to ship products from the overseas manufacturer, is when the local manufacturer should get started on a feasible amount of product shipments. Now if anything were to interrupt the process overseas, you can deploy the local manufacturer to take on the work instead.

COMPETITIVE PRICING

Considering you are now employing back-up vendors for your processes and programs to be completed efficiently, ideally you would want to be transparent with all parties involved. Your manufacturers do not want to lose your business, just as much as you do not want to lose out on business because of SPOFs. It is encouraged to be transparent and upfront with the vendors you work with. Tell them you have employed other vendors and services to complete the job more efficiently. Without giving too much away, or placing blame, share the reasons why this works for your business. Your honesty may put you in a position to negotiate your contract.

Transparency also forces your business partners to be honest in regards to what they can offer and costs permitted to complete that work. Now you have the ability to create better processes for your business, reduce SPOFs and amplify your business practices.

TRUST YOURSELF

Sometimes you don’t know what you and your team are capable of until you have been put through the ringer. In any business, you are always learning about the industry at hand, but also learning new things every day. It’s important to remain agile in order to pivot quickly or “fail fast”, and pick yourself back up again. Outside of employing external vendors, have you considered what your team can do to make the business grow?

Learn the full breadth of your business and the scope of work that the pillars of your business entails. You’d be surprised what aspects are easier to manage in-house. Maybe you can pick up the slack where the SPOF left a rift. Talk to your banking partners, legal team, and employees to educate yourself. Sometimes you’re not fully aware of all that your bank offers, and funds can be allocated differently. The legal team may have some insight on your contracts that gives you the freedom to act in a way that is beneficial for everyone. Nurture your team in the face of challenges and learn their personal and professional goals. New or different tasks may align with the vision they have for their career.

Ernst & Young Entrepreneurs Access Network Introduces Garrett Lash

Garrett Lash of Myden-Smalls & PuffCuff LLC. joins EY Entrepreneurs Access Network’s second cohort of Black and Latino entrepreneurs

Ernst & Young LLP (EY US) recently selected Garrett Lash for the 2022 cohort of the EY Entrepreneurs Access Network (EAN). A nationwide business accelerator, EAN is a comprehensive, executive program designed to support Black- and Latino-owned companies as they transcend barriers and scale their organizations. EAN helps entrepreneurs further grow their companies and close long-standing disparity gaps.

The program includes select entrepreneurs across the US, including Garrett Lash, CEO of Myden-Smalls eComm Fulfillment Solutions and CEO of PuffCuff, LLC. based in Marietta, GA. Often revered as the ‘Logistics Guy’ by his loving wife and co-CEO, Ceata Lash, Garrett is excited to immerse himself in the transformative business curriculum. Garrett applied for the program and was evaluated based on his leadership style and business acumen, in addition to PuffCuff’s company culture, level of innovation and potential for scalability.

Due to PuffCuff’s significant growth over recent years, Ceata & Garrett joined forces, both as CEO; as a result of their combined success. From there, Myden-Smalls was born. Three, thriving family-owned companies later, the power couple proved that together they could nurture the growth of other microenterprises and small businesses through the boutique eComm fulfillment company.

Small biz pain-point sparks launch of new company

Congratulations! Your small business has reached the point where it's time to bring in some help. Your products are taking over almost every room in the house, and you can barely keep up with the packing and shipping demands of your growing e-commerce business. You are ready to outsource the logistics so you can focus on continuing to grow, but first, you will have to decide which 3PL (3rd Party Logistics) company is right for you. While searching for a 3PL to partner with, you may be tempted to go with a large company with many "big name" clients. You may be thinking, "a large client roster means they must know what they're doing. If they can handle logistics for a large company, they will definitely be able to handle the logistics of my small business, right?" Wrong! Although your line of thinking makes sense, there are many reasons why partnering with a large 3PL could ultimately hurt your small business.

Why Choose a Boutique Fulfillment Company over 3PL?

ATTENTION TO DETAIL

Your customers deserve and expect quality. You have been able to grow your e-commerce business to this point because you have delivered excellent customer service thru attention to detail. You need a logistics company that will continue to provide the same level of quality. 3PLs are used to working with larger companies and don't always have to pay close attention to detail because the stakes are not as high. A large company can quickly recover that cost if several units are damaged or left out of a package during shipping. At the same time, that same loss could significantly impact your bottom line as a small business. When you partner with a boutique 3PL, you can expect your inventory and customer needs to be handled with care.

PERSONAL TOUCH

When a large 3PL is handling your fulfillment needs, you are one of many accounts they manage. You are often just a number to them, and even speaking with an actual person can mean countless emails and time spent on hold. When you work with a boutique 3PL, they limit the number of clients they work with to provide personalized service. This means you and your business get the attention that you deserve.

SUPPORT AS YOU GROW

Having a logistics company with specific experience helping small businesses scale is essential to your growth. It would be best to have a 3PL that will be flexible as you navigate things like sales spikes and other unforeseen shifts. A boutique 3PL has the time and expertise necessary to stand beside your growing business as you reach new heights.

Choosing who to trust with the fulfillment needs of your e-commerce business can be challenging. Myden-Smalls is a boutique fulfillment solutions company committed to meeting the fulfillment needs of small businesses.

Click here to learn how we can help take the logistics off of your plate so that you can focus on growing your business.