The fluid control industry is a vital sector that supplies a range of products and services to many different sectors, including oil and gas, pharmaceuticals, and water treatment operations. However, like any industry, it is not immune to supply chain issues that can disrupt productivity, reduce efficiency, and impact the bottom line. For example, only two percent of companies said they were fully prepared for the supply chain challenges that occurred during the peak of the Covid-19 pandemic according to a recent Ernst & Young LLP (EY US) survey. 

As a business in the fluid control industry, you may be looking for ways to navigate supply chain issues to ensure business continuity and growth, even in unpredictable market conditions. Here are a few ideas to help make that happen. 

Identify the core cause of the issue.

The first step in addressing any supply chain issue is to identify its root cause. Leverage your deep understanding of your industry, your products and services, and the suppliers you have access to. Many issues can arise in the fluid control industry, including delays in shipping, quality control problems, and raw material shortages. Once you have identified potential obstacles, you can take the necessary steps to create a risk management strategy.

Implement a risk management strategy.

Supply chain disruptions are often unexpected and can occur at any time. To mitigate the risk of these disruptions, it is essential to implement a risk management strategy. This may include identifying and analyzing potential risks, developing contingency plans, and regularly reviewing and updating the plan. It is also important to have a crisis management team in place that can quickly respond to any disruptions and minimize their impact on the business. In short, be prepared to avoid obstacles and, as often as possible, plan for the unexpected. 

Find a trusted supplier source. 

While there may be many options to choose from, find suppliers who take the time to understand the specific needs of your operation. Ideally, you will want these suppliers to feel like an extended and integral part of your business. Companies like this can help you strategize to consistently stay one step ahead of challenges – and your competition. Maintaining strong relationships with these types of suppliers is critical to ensuring a steady flow of materials and reducing the risk of supply chain disruptions. This includes regular communication, sharing forecasts and production schedules, and ensuring payment terms are adhered to.

Utilize technology and automation.

Technology and automation can play a crucial role in navigating supply chain issues in the fluid control industry. This may include using software to manage inventory levels and production schedules, automating the production process, and using sensors to track materials and products throughout the supply chain. By using technology and automation, you can increase efficiency, reduce the risk of human error, and respond quickly to supply chain disruptions. 

Enhance your supply chain strategy. 

Navigating supply chain issues requires a comprehensive approach that takes into account the unique challenges of the fluid control industry. By following these ideas, you will have a head start on helping to ensure you have the products you need for the productivity and growth of your business and operation. 

At DynaQuip we take great pride in our inventory, distribution, and technical support services that allow us to consistently deliver valves and resources on time and on  budget. If you have questions or comments regarding supply chain issues, we are always here to help you strategize. Feel free to contact us any time by requesting a solution or calling 800-545-3636.