So you've realized that you’ve been too comfortable and now there’s a PANDEMIC!
Today’s post is by Dave Wenig, Vice President of Sales and Services at SafeSourcing, Inc.
If you read my last blog post titled, “Are you too comfortable?” and realized I was describing your organization then read on. Actually, please keep reading anyway.
When I wrote a month ago and posed that question, I honestly had no idea that the markets were about to tumble, schools would close down, businesses would send their employees home, sporting events would be cancelled, and more. While I was aware and even concerned about Coronavirus (COVID-19), that’s not what I was referring to. That said, this terrible pandemic has, in fact, already started challenging US businesses and this looks likely to continue. The question now is, whether or not it is too late to take actions that will help your company survive the pandemic.
In all likelihood we can still help. There is still time to take steps. Even if you are already a responsible steward of your company’s expenses, there is still likely room for improvement and any areas where you can reduce costs in a market like this are absolutely worth the effort. If you’re curious about how well you are doing with your strategic sourcing, then this blog I posted a while back will help you get a sense. Look, we save our customers greater than 24% on average across all of their spend categories. I don’t have to ask if that would be helpful. I know that would help any organization.
But, it’s not just cost reductions. Concerns are steadily growing about the stability of organizations’ supply chains and now is not the time to have all of your eggs in one vendors’ basket. If you’ve been following SafeSourcing, you probably know that we have a supplier database consisting of over 457,000 global suppliers of any good or service you might need to run your business. Even if all you need is to supplement your current supply chain with additional sources of supply or alternate service providers, we can help with that too.
Just don’t wait too long. If there’s anything that I’m sure of as this awful situation caused by Coronavirus continues to unfold across the globe, it’s that the only wrong way to prepare is to do nothing.
Stay safe and don’t be shy if you need assistance. We’re all in this together.