In a blog post, Target pointed out that it is navigating unprecedented supply chain challenges, but the retailer insisted that it is thinking outside the box, based in part on what it has learned in the COVID-19 pandemic, to ensure it’s ready for the holiday season.
Target noted that it is the second-largest importer in the United States and continues working with vendors on supply chain challenges together this season. So, it initiated holiday planning earlier than usual, ordering larger upfront quantities and in some cases, working with vendors to fast-track orders and ensure products arrive on schedule
In addition, the company has chartered a container ship to regularly bring shipments of its merchandise from overseas to U.S. ports. As co-managers of the ship, Target indicated, it can avoid delays from voyage stops other than those that meet its needs and steer clear of particularly backed-up ports. Once products arrive in the U.S., Target stated that it is partnering closely with vendors and transportation partners to expedite product movement to stores.
Target employees with supply chain responsibilities have learned to navigate multiple challenges in the course of doing business during the pandemic, Target asserted, pointing to a second-quarter ending inventory up more than 26% from the same time last year as evidence of their ability to adapt. As such, Target has an additional $2.5 billion in product available as the company enters the fall.
