From the time an IT and distribution center snafu forced a $5B wholesale drug company into bankruptcy to when a major toy retailer sent “we’re sorry” emails two days before Christmas because it couldn’t fulfill orders, companies are feeling greater pressure than ever to showcase a strong supply chain. Nine out of 10 professionals say supply chain sustainability is key when making buying decisions, according to SupplyChain 24/7.
The many “top supply chain disaster” lists plastered across the web plainly demonstrate; following supply chain management best practices is necessary for a business to succeed…and avoid potential embarrassment, or worse, collapse.
Simply put, supply chain management is the process of maximizing customer value and achieving a competitive advantage through the cumulative effort of multiple organizations. In the latest news 50% of companies surveyed rank themselves as beginners in supply chain sustainability.
Mobile Mini Inc’s VP of Asset Management Brandon Imrie says a big reason Mobile Mini is the best supply chain solution for companies is because its own supply chain management has been fine-tuned over the company’s 35-year history.
Mobile Mini’s understanding of its customers’ supply chain starts with the mastery of its own. Mr. Imrie says: “Those companies who can do supply chain well at a local level, that’s going to expand their customers’ margins more and their customers will subsequently beat the competition more.”
“We’re a logistics company,” Mr. Imrie explains. “Our logistics is the ability to deliver and pickup as efficiently as possible and provide the right level of service while offering custom products. We have what you need and we’re there 24/7. Our company focus is keeping our assets running and focusing on keeping every point in the lifecycle of the units as efficient as possible. We do that better and on a larger scale than any of our competitors.”
Mobile Mini’s EVP and COO Kelly Williams further explains that the company’s supply chain management is all about Mobile Mini’s ability to create demand and help end users. “For example it’s about $15 a square foot to have showroom space today. You’ve got these folks in a strip mall, they’re very limited on space. And $15 per square foot is very expensive. Yet we know for a fact that 66% of the time a customer walks into a retail space and if they don’t have a product available to them, they’re not going to return. What Mobile Mini is able to provide is a storage container at about 50 cents a square foot that sits right next to the business. That retailer can quickly go and grab any product or anything else that they’d like to showcase in the showroom while the customer is there, so there is no risk of losing the customer.”
The Consumer Confidence Index has surged to 130.8, the highest point since 2000, and all signs coming from the 2018 Retail Supply Chain Conference point towards growth; reclaiming your space is more valuable than ever.
One of Mobile Mini’s big box retail customers relays the story from last holiday season; the time of year when most retailers do 30-40% of their business and 100 million Americans go to stores on Black Friday alone. This big box retailer had a dozen or so on-special bicycles showcased. Says Mr. Williams: “Those things sell out in a hurry and they can’t afford to lose that product or that customer. With Mobile Mini they’re able to quickly go behind and grab 30 more bicycles in a moment’s notice. We may have 10, 15, 20 boxes back there at these very big retail spaces. We provide a convenience for the retailer and in turn for the customer and take care of them rain or shine 365 days a year.”
The Wall Street Journal pounds this point home, reporting last month that jumping on trends and moving faster and more nimbly within the supply chain is imperative.
Mr. Williams describes another typical situation in one of Mobile Mini’s key verticals: the hotel industry. “These hotels are selling out on a consistent basis and there’s at least one room that they’ve got occupied for bedding, sheets, pillows, whatever it may be. We’re able to step in and allow them to clean that room out. Where they now have 30 nights at let’s just call it $150 a night. For about the same price as one night’s stay, Mobile Mini gives these hotels the on-site secure storage space they need. There’s a tremendous opportunity to broadcast this solution industrywide, to all hotels.” Mr. Williams points out that this is a microcosm of Mobile Mini’s value in the supply chain: “From a revenue standpoint, it’s a very small investment for our world-class portable storage containers, and a game-changing opportunity for our customers to drive revenue.”