This year, Chinese New Year is on Thursday, February 19th, with festivities taking place all week. As many in the logistics and transportation field know, the holiday has a huge impact on global supply chains originating in China. During this time, shippers are strained to find available space on container vessels sailing out of Asia to the United States and typically must pay sizeable increases in freight rates to meet their capacity.
Tips on how to mitigate the impact of the Chinese New Year on your supply chain include:
- Planning shipments around the peak season of Chinese New Year wherever possible
- Keep overseas trading partners informed of any delays
- Consider padding inventory levels in US warehouses & facilities
- Be aware that capacity and rates will fluctuate with freight levels in the area, in the time leading up to Chinese New Year and for the 2-4 weeks following as well
If you have any specific questions or concerns about actions recommended for your business please feel free to call 1-855-412-0200.