Planning for Success in Uncertain Times: Essential Purchases Amid Supply Chain Disruptions

As we navigate the complexities of today's global market, the effects of supply chain disruptions are hitting hard. With significant reductions in shipping capacity at U.S. ports, preparing a strategic plan for your purchases is key. This guide will help you pinpoint essential items to secure now.

Understanding the Current Landscape

The current situation in the supply chain is complex. Since the COVID pandemic, shipping delays have surged. Right now, U.S. ports are seeing a dramatic decline in incoming ships.

Additionally, the U.S. Bureau of Labor Statistics reported that the price of essential goods has risen by approximately 5.4% over the past year. Understanding these dynamics helps in making informed purchasing decisions.

Why Planning Ahead is Vital

Anticipating challenges related to supply chain disruptions eases the stress of last-minute buying and fluctuating prices. By planning, you can better manage your budget, reduce anxiety, and ensure essential goods are available when you need them.

Identifying categories of products likely to experience shortages or cost increases is crucial. Be proactive and make a plan that makes sense for your family. It's important that you avoid panic buying and instead set yourself up for success in the coming months.

Don't buy out half the store's stock, just buy 2-3 months extra supply of these you know you'll need and use. The exception to this rule is clothing and shoes. For example, if you have a 2 year old, you might consider buying clothes and shoes for the next 1-2 sizes up. Consider only what you know you'll need to help cushion any supply chain issues and price surges in the next 6-18 months.

I cannot stress this enough, ONLY buy what you will use. If you don't eat canned corn, it's probably ill advised to purchase canned corn.

Essential Categories to Consider Purchasing

1. Household Essentials

With many spending more time at home, household essentials are top priorities. Items like toiletries, cleaning supplies, and non-perishable food will see increased demand.

Consider stocking up on common household items such as:

• Toilet Paper: It remains essential and can be difficult to find during emergencies.

• Canned Goods: Their long shelf life means they are ideal for stocking your pantry.

• Cleaning Supplies: Some cleaning supplies and more so the packaging for those supplies is sourced overseas.

• Gardening Supplies: Early purchasing of seeds and tools ensures you have what you need for spring planting.

  
  

2. Electronics and Home Office Supplies

The rise in remote work and online learning has driven up demand for electronics. To avoid shortages, secure critical items now, including:

• Laptops and Tablets: A malfunctioning device can halt productivity. Having a backup saves time and frustration. Only purchase what you will need in the next 3-9 months.

• Batteries: A lot of batteries come from overseas. Be mindful of shelf-life and do not overbuy.

  
  

3. Personal Care Products

Fluctuations in supply can impact personal care products. Buying ahead can prevent inconvenience. Focus on:

• Skincare and Haircare Items: Well-known brands often face supply chain issues, making it wise to stock your favorites early.

• Over-the-Counter Medicines: Prepare by keeping extra stock of pain relievers, cold medications, and allergy relief on hand.

• Prescriptions: Some prescriptions and ingredients used in prescriptions are produced overseas, things that cannot easily be grown and produced here in the U.S.

• Bandaids: It's never a bad idea to have extra bandaids on hand, especially if you have kids.

  
  

4. Clothing

As the seasons change, so do consumer needs. Consider being proactive with purchases that may become scarce over time. For instance:

• Winter Clothes: Items like heaters, winter clothing, and snow gear often sell out as colder weather approaches and with a lot of these items made in China, we may see some stock issues in the near future.

• Children's Clothes: Consider buying a size or two up to prepare for any possible supply chain issues and/or pricing surges as a result of the tariffs on China.

• Shoes: A lot of shoes are made in China, we may see some stock issues in the near future as a result of the tariffs.

  
  

5. Food

With supply chain disruptions and the trade war with China, these are some items you may want to consider making sure you have some backstock of:

• Rice

• Dry Beans

• Olive Oil

• Coffee

• Fresh Water

• Canned Vegetables

• Beef (some of our beef does come from China)

• Other canned meats and shelf stable proteins.

  
  

Stocked shelves with a variety of household essentials ready for purchase.

Keeping an Eye on Tariffs and Pricing Trends

Tariffs can significantly affect product pricing and availability. Currently, many imported goods face increased tariffs, leading to higher consumer costs.

Staying informed about tariff changes will enable you to explore alternatives and local manufacturers. This knowledge will help you make better purchasing decisions and prepare for potential hikes in prices.

Broadening Your Shopping Horizons

In light of supply chain issues, expanding your shopping options is wise. Explore local suppliers, online marketplaces, and second-hand stores that may carry useful alternatives. Flexibility in purchasing can help you discover new products while sidestepping potential shortages.

By following this guide, you'll protect your household from supply chain disruptions and gain confidence in your ability to handle buying challenges successfully.