Erratic and unpredictable rains are not uncommon in India. Arrivals of monsoons even though most awaited is also a curse for businesses as they impact demand and supply of essential commodities, affect buying patterns of customers and in turn sales, and can also cause damage to perishable items and infrastructure.
To minimize the impact of monsoons on wreaking havoc in your business, it is advisable to be adequately prepared.
Here is what you can do to prevent monsoons from impacting your business.
Get Your Stores Monsoon Ready
Monsoon in all its fury brings with it a slew of problems which can significantly impact your warehouse and inventory. There are a lot of precautions that you can take to avoid damage to your stores and goods. Here are a few of them:
- Keep your store (or warehouse) premises especially basements clean, dry, and well-lit. Also repair all broken windows, cracks, and leaks to avoid rainwater seepage, which could adversely affect stored items like perishables, cement, agricultural produce, etc.
- Get your electrical equipment checked, serviced, and well covered to avoid damage to the equipment and prevent accidents.
- Keeping your stores and retail shops well-stocked with batteries, torches and equipped with power back-up will help you beat the power outages.
- Adequately pack and shrink wrap your items to prevent them from getting wet or damp.
- Fumigate all your wooden cases and other damp areas to avoid mold and moisture.
- You can also invest in waterproof monsoon sheds to protect your material against the rain.
Anticipate Customer Needs from Previous Year Sales to Avoid Under (or over) Stocking
A change in weather leads to different buying patterns of customers. For instance, snacking items, hot beverages, umbrellas, raincoats, gum-boots’ sales shoot up during the monsoons. On the other hand, prices of vegetables like onions, tomatoes, etc. soar up because the supply declines.
Drawing insights from previous year sales and weather forecast, you can anticipate customers needs and plan to stock up your inventory to meet customers’ demands and make profits. You can also optimize supply chain efficiency by understanding the impact of weather on perishables and optimizing distribution.
Staff for home deliveries
In this age of e-commerce, most customers order online, instead of venturing out in rains to buy their daily need products. Whether you are a local kirana shop owner or a popular restaurant you would need to increase your staff strength to for home deliveries during this season (and even beyond). You would also need to invest in safety gear to protect your staff from rains when they are out for deliveries.
Discounts and Sales
Despite precautions, several perishable items get damaged during the rain. You can offer discounts or organize sales on such items to ensure they are consumed instead of lying perished in your godowns.
Insure your Business
Heavy rains can wreak havoc for many businesses like agriculture, transportation, logistics, etc. Even though you are well prepared to tackle monsoons, it is always advisable to insure your business to minimize the impact of an unforeseen calamity.
Keep a tab on weather predictions
Apart from following the above measures, you can also keep a tab on weather predictions to adjust your plans based on the weather next week. This will help you better protect your goods and also meet your customers’ expectations.
To prepare well for monsoons by stocking up, getting your warehouses repaired and equipped, and hiring extra staff you would need to expand your budget. We at HAPPY can help you ease off your monsoon burden with our short term loans.