When most people in the United States start planning for February, romance and companionship are the first things that typically come to mind, so the inspiration can begin. Pink and red, hearts, cards, small gifts and big gestures all usually accompany many of the feelings of February for Americans. Depending on where you are in the world, however, it can be very different. China, for example, celebrates the 2022 New Year on February 1st, bringing excitement, hope, renewal and optimism. During this time, one of the most powerful countries in the world throws a massive party ushering in the new year. Much to the chagrin of global enterprise, this celebration often reduces efficiently running supply chains across the planet to a slow crawl.
The Chinese New Year, also known as Lunar New Year, or Spring Festival, is a celebration of the new year in China based on the lunar or traditional lunisolar calendar. The colors red and gold, the same as the Chinese flag, flood all vision as shops and alleys are lined with lanterns and dancing dragons play in parades on the streets. Major cities across the country like Beijing and Shanghai, put on firework shows that are both dazzling to behold and often dangerous if too close!
When China celebrates their new year, it lasts much longer than the US. In fact, it can last up to 3 weeks with a large portion of the workforce taking extended time off so they can travel to visit family in their homes. Businesses are now faced with another hurdle as China’s ports and harbors effectively go into hibernation during this time period. Global importing and exporting is directly impacted since almost one third of all supply chain exports ship out of China.
Every person on this planet has the right to celebrate their heritage. It’s up to business and commerce to make the appropriate plans with their inventory suppliers, to anticipate slowdowns in goods, and to celebrate cultural heritage and diverse backgrounds. To aid in this effort, every business involved in a supply chain function needs a 4PL, or 4th Party Logistics, operator strategizing alongside them. ITC Diligence International, Inc. has been providing 4PL services to importing and exporting industries for over 30 years.
Free Trade Zone warehouses are a crucial part of 4th party logistics and supply chain management, and ITC Diligence International Inc. operates FTZ’s in major ports across the country including Los Angeles, Long Beach, New York and Miami.
A 4PL operator provides critical management of supply chain resources, inventory, terminal timing, and staffing or warehouse space availability challenges. Other benefits include:
- 1 point of contact for global supply chain management
- Full open book transparency Industry benchmarking and standardization
- Visible information and transparent ownership
- Logistic savings directly impact bottom line
- Expanded global network and center of influence
The Year of the Tiger is here and importers and exporters must prepare for the cyclical supply chain setbacks that inevitably accompany each political cycle, calendar holiday, trade war, and health emergencies. With 3 decades of experience as a 4PL operator for the global supply chain, ITC Diligence International Inc. has the systems and operations in place to predict these global slowdowns, anticipate tariff changes and give your business the competitive advantage it needs. Critical inventory management, legal compliance, along with tariff and duty fee deferral are only a few of the services ITC Diligence International Inc provides.
Contact ITC Diligence International Inc. today to discover more about the 4PL program, FTZ warehouses, and supply chain inventory management from an experienced customs broker.