The importance of supply chain efficiency has been discussed by an expert.
Becky Reuber, strategic management professor at Rotman School of Management at the University of Toronto, has told the Financial Post that the businesses that make "knee-jerk" reactions to the current market will not help.
"You have to give [being more efficient] serious thought and strategise," she said.
Inventory levels are one area to keep a strict eye on, Ms Reuber added.
"Cutting back on big inventories will reduce costs but you still need the technology to ensure you are flexible to meet incoming orders when they come," she said.
Looking into new ways to source materials and making sure not to rely on one sole supplier will also help in case the worst should happen and a business in the supply chain goes under.
"You want your supply chain to be there for the long-term, so look at ways to make it more cost-effective and efficient," Ms Reuber said.
