Diversification of suppliers and increased inventory space to protect against product shortages Analysis of product pricing taking into consideration market trends, the characteristics of your demand base and the increased operating costs of the post-pandemic environment Increased automation in cashiering, customer service and other areas where possible to help control labor costs with lower volumes Reevaluation of space needs and associated costs for front-of-house versus back-of-house in light of new spacing requirements and inventory needs Transportation & Warehousing The primary impact of this sector will be the potential for increased freight and warehousing demand for tribal operators involved in those businesses. Between increases in online shopping, diversification of the supply chain and increased inventory space needs, demand for freight transport and warehousing is forecast to grow. As with manufacturing, some tribes are strategically located and can offer ample land and potentially lower taxes to warehouse and freight operators or develop them in their own right. To the extent that the same tribes do not have capital to develop or expand such ventures, working with other tribes to obtain financing or joint venture could solve the problem. Any tribe already active in warehousing and freight transport or actively pursuing increased manufacturing opportunities as described earlier should also be looking to expand their network of shippers and delivery destinations over the next two years to boost their presence in the sector for the long haul. Other Industry Sectors The needs and opportunities of the various other industry sectors not profiled independently in this analysis are too great for a comprehensive discussion or listing of recommendations for recovery and renewed growth. However, a few prescriptions that we consider useful are presented below:
Discussions with utility companies to explore additional, environmentally friendly generation and transmission on and through tribal lands to boost local capabilities and generate new construction demand Active pursuit of enhanced internet and cellular connectivity for tribal government, residents and businesses Direct negotiations with lenders and financial institutions to adjust payment terms and increase lines of credit to support ongoing operations during the crisis and new growth and recovery efforts afterwards Exploration of funds availability for single and multi-family housing development for tribal members to support construction businesses and improve tribal living conditions.
∴ EXECUTIVE SUMMARY
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