How To Get Your Vape Supply Chain In Sync To Meet The Demand
The vaping industry is one of the world's fastest-growing commercial sectors, with forecasted growth of another 20% to $61 billion by 2025.
Vaping has become popular among not only ex-smokers but also the younger generation, with children opting to vape rather than smoke cigarettes. Vaping has become popular as a result of this cultural shift, with people seeking to buy the best e-cigarettes and e-liquids, fueling the vaping community's growth.
So, if you want to get into the lucrative vaping sector, now is the time to start. We can assist you with your logistic and retail supply chain requirements, whether you are considering manufacturing, importing, or exporting items, or opening online or in-store retail locations.
It doesn’t matter if you call them vape wholesalers, distributors, vendors, or importers. They’re your suppliers and the stronger your relationship with each one, the easier it will be to lead in your field.
Of course, having a more collaborative connection with suppliers will take time and resources. Nevertheless, you’ll see several benefits if you make supplier management a high priority in the coming months.
The Vape industry is characterised by a rapid rate of new product introductions, short product life cycles, fierce rivalry, and a requirement for quick time to market. Distributors must compete not just on pricing, quality, and features of their products, but also on customer service methods relating to those items. While developing an appealing product selection is critical, vape distributors will fall short if products are not delivered to clients when, when, and how they want them.
An efficient supply chain is essential for delivering on the promise of providing the right items, to the right places, in the right amounts, and on time. Failure to do so will result in a loss of revenue, reduced operating margins, and eventually an angry vape shop.
Continue reading to get a complete picture. These tips will help you to get your vape business more optimized and profitable with ease.
Understanding The People’s Demand
You must be knowledgeable of the types of vaping products that consumers seek when working in the vaping sector, from pens to chargers to new devices. Because the vaping market is constantly evolving, it is your obligation as a business owner to understand what customers want and be able to meet their demands within approved parameters. That is why you should conduct as much market research as possible on your customers so that you have a clear notion of what products you might have in stock and can deliver them to your clients on time.
Maintain Positive Supplier Relationships
It's critical to have a solid relationship with your suppliers while looking for suppliers to ensure that you get your products on time, whether you're dealing with vape supply chain issues or your business has been harmed by the effects of the coronavirus. Suppliers who you can rely on will be able to help you get through whatever problem you're having.
Market Changes: Can You Predict Them?
Although the global supply chain crisis we are currently experiencing was foreseen, the magnitude with which it threw the market into disarray was unprecedented. As a business owner, it is your responsibility to stay informed about everything that may occur in the market that may affect your company. You will be able to prepare ahead for any future changes by doing so, which will make a significant impact on the way you do business and ensure that you will be able to adjust in the future.
Order a little more than you think you'll need.
Most vape starter kits, if not the oils and packs themselves, have a fairly long shelf life, so if you're worried about running out of something, there's no shame in stocking up on extras. When a supply chain crisis occurs, you'll be much less likely to run out of a specific product this way.
Boost logistical agility.
Managing a large logistics network is difficult since it is essentially a multi-party process with unknown lead times, prices, and dangers. The interplay between cost and flexibility is critical for vape distributors to consider. Additionally, there are white label e-liquid manufacturing units that can complete this duty on their own, freeing you up to concentrate on the expansion of your brand.
Distributors should include additional points of flexibility in their fixed networks rather than focus on the absolute lowest cost. This allows them to continuously assess their environment for bottleneck symptoms or demand spikes and respond accordingly.
The ability to adapt to a changing environment is what distinguishes the top distributors. Delays are unavoidable as the supply chain is pressed for faster deliveries and lower prices while navigating international boundaries and unexpected weather patterns. The supply chain's agility mitigates these risks, resulting in a more resilient and healthy network.
Vape distributors operate in a fiercely competitive market where success is determined not only by getting the right products to the right clients at the right time but also by the level of service they provide to the vape shops they serve.
Vape distributors may harmonise their supply networks by understanding and segmenting demand, building clear, visible, and adaptable supply chain models, and attempting to address the demand/supply dilemma in real-time.