As many of you are aware, the Lunar New Year is approaching, and it’s crucial for businesses to prepare for the upcoming holiday, which may cause disruptions to global supply chains
2024 is the Year of the Dragon (Chinese Loong), which symbolizes auspiciousness and power. This year, the Lunar New Year’s Day falls on February 10th, with the Lantern Festival on February 24th marking the climax as well as the end and conclusion of the festivities.
Please note the Savino Del Bene office closures during this period:
North Asia
Mainland China: from Feb 10 to Feb 17
Hong Kong: from Feb 10 to Feb 13
Taiwan: from Feb 08 to Feb 14
South Korea: from Feb 8 at 3 pm to Feb 11
Southeast Asia
Singapore: from Feb 10 to Feb 12
Indonesia: from Feb 9 to Feb 10
Malaysia: from Feb 10 to Feb 12
Vietnam: from Feb 8 to Feb 14
To proactively minimize the impact of the upcoming Lunar New Year’s holiday on our customers’ supply chain, we recommend the following measures:
- Understand supply chain requirements and inventory levels. It is recommended to place bookings earlier than usual, specifically, ocean freight 3 – 4 weeks in advance, and airfreight 1-2 weeks ahead. By doing so, it is possible to mitigate the risk of capacity shortages, rate increases, or prolonged transit time.
- Explore diversified shipping routes, and multiple shipping modes to mitigate unexpected congestion or disruption caused by unforeseen unavailability of a specific service.
- Stay agile to changes in both production and delivery schedules. Ensure that contingency plans have been built up well beforehand.
- Stay up to date on any developments that may impact operations.
The simultaneous occurrence of the Lunar New Year, the Red Sea Crisis, and related challenges emphasizes the need for a well-coordinated approach. By integrating these insights into the planning strategy, we can ensure a smoother transition through this period, and maintain efficient operations.