Supply Chain and Logistics Impacted Worldwide by Significant Holiday
Atlanta, GA — (January 10, 2019) — By now, anyone doing business in the Asia markets is well into planning how the continuity of trade will work during the Chinese New Year (CNY) when virtually all business in China, including factories, closes down from one to four weeks. In 2019 CNY will begin on February 5.
- All business during CNY will face delayed production time, as will quotation requests.
- Many workers will not return to their workplace immediately after the holidays, which means previously estimated production times might be extended.
- If orders are placed late, it is possible they will be placed further back in the production line;
- With more than a month’s worth of orders backed up to start with, factories will favor orders from their preferred partners.
- Build up adequate inventory, considering a period of up to four weeks after Chinese New Year and even find out if your Chinese source has inventory in non-Asian locations, so you can use other supply chains.
- Inform your forwarder about your priority shipments, in case there is limited space.
- Book shipments well in advance of CNY.
- Reserve space on passenger flights for shipments that cannot be delayed. The rates are slightly higher, but this measure will keep your supply chain running.
- Mainland China – CNY – February 4-10
- Hong Kong – CNY – February 5-7
- Korea – Lunar New Year Holiday – February 2-6
- Singapore – CNY – February 5-6
- Indonesia – CNY – February 5
- Taiwan – CNY – February 4-8
- Vietnam – Lunar New Year – February 2-10
- Malaysia – CNY – February 5-6