Strategies for BFCM success 2024 - Insights from Allison C. Ullrich

BFCM (Black Friday and Cyber Monday) can make or break your operations. High demand, tight timelines, and increased customer expectations mean your team needs to be prepared. Success during this critical time depends on proactive planning, seamless coordination, and adaptability.

Here are some actionable tips from Allison (supply chain leader who worked at Outer, Hydrow, Wayfair) to help you navigate the challenges and maximize opportunities during the busiest shopping event of the year.

1. Pre-plan with carriers

BFCM logistics require thorough preparation. Preplanning ensures that there is a solid base in operations without any disturbances in the supply chain.

• Secure capacity early: Collaborate with your carriers well in advance to secure capacity and finalize schedules. Waiting until the last minute increases the risk of delays or limited availability.
• Communicate expectations: Share clear demand forecasts with your logistics partners to align on BFCM coverage and mitigate surprises.

2. Track inventory closely

Running out of stock during BFCM results in lost sales as well as dissatisfied customers. Keeping a close eye on inventory is critical during this period.

• Use real-time tracking tools: Implement tools like Narrative to monitor stock levels and identify low inventory before it becomes a critical issue.
• Set thresholds: Define minimum stock levels for popular items to trigger automatic reordering.

3. Build backup plans

Prepare for the unexpected to keep your operations moving. Plan contingencies to limit the impact of unpredictable interruptions such as system outages or capacity shortages.

• Backup carriers: Always have alternative shipping options in place. You do not want to be left scrambling if one falls through.
• Add lead time: Factor in extra time for potential delays. Sometimes a small padding can save you from big chaos.

4. Be transparent with customers

Transparency builds trust and helps you manage customer expectations during BFCM. It also strengthens relationships and improves customer loyalty.

• Communicate proactively: Let customers know about possible delays or stockouts early. Clear communication will go a long way in keeping goodwill.
• Set realistic delivery timelines: Avoid over-promising. It’s better to delight customers by delivering earlier than expected rather than disappointing them with delays.

5. Collaborate across teams

BFCM success requires every department to work together. Cross-functional collaboration enhances agility and helps you respond to challenges faster.

• Align with marketing and customer service: Ensure your campaigns reflect real-time inventory levels. For example, pause ads for out-of-stock items to avoid misleading customers.
• Host frequent check-ins: Encourage open communication between supply chain, sales, and customer support teams to address challenges quickly.

6. Focus on essential metrics

During BFCM, teams are overwhelmed with data. Narrow down your approach by focusing on the most impactful metrics. A focused approach keeps your team aligned on priorities and avoids distractions.

• Track KPIs like: Order fulfillment rates, delivery times, stockout percentage.
• ‍Monitor progress regularly: Use these metrics to make informed decisions and optimize performance.

7. Foster a supportive team environment

The pressure of BFCM can take a toll on your team. Strong leadership and teamwork are key. When your team feels supported, they’re more likely to stay productive and engaged.

• Promote transparency: Create an open environment where team members feel comfortable sharing challenges.
• Encourage collaboration: Foster a culture of mutual support to distribute workloads effectively.
• Lead with empathy: Servant leadership goes a long way in motivating your team to go the extra mile.

8. Stay adaptable

BFCM is unpredictable, so flexibility is crucial. This ensures that you can respond effectively to unexpected challenges.

• Adjust on the fly: Be prepared to pivot as dictated by real-time changes in inventory or customer demand.
• Optimize product offerings: Focus on promoting high-demand or high-margin items to maximize profitability.

Final thoughts

Instead of simply managing volume during BFCM, focus on delivering value despite the hurdles. Good pre-planning, efficient proactive communication, and teamwork are the foundation for efficient operations. Stay flexible and focused on your fundamentals to thrive during this critical period.

This BFCM, make preparation your superpower. Execute with clarity, collaborate seamlessly, and your operations will shine.