Supply Chain Safety Net

April 29th, 2020

During this trying time of COVID-19, organizations are battling uncertainty

 

Today’s post is written by Ivy Ray, Senior Procurement Specialist at SafeSourcing Inc.

During this trying time of COVID-19, organizations are battling uncertainty right now with demand fluctuations, production changes, and security of supply. In an earlier blog, I discussed the importance of innovation and there is no greater time than now to be innovative.

Innovation is often viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs. [1] Currently, there are some supplies that are in greater demand due to the need to meet the requirements that we are facing today. Solutions to meet these needs are coming from a multitude of sources and the world’s supply chain is being stretched to the limit. The National Association of Manufacturers was tapped to seek suppliers to provide or produce large-scale quantities within 2 weeks in response to the COVID-19 pandemic.

SafeSourcing was able to successfully source label products for a client, in the midst of this crisis. The label suppliers were ready and able to come through with significant savings over 35%. Organizations are learning a valuable lesson, which is to have a plan and stay ready. In order to get through this situation today and to be ready for the future we need more effective practices, products, and processes. Increased services, technologies, and business models that are readily available to markets, governments and society.

This calls for better financial management, cost control and less organizational waste. Many organizations are beginning to re-evaluate their purchasing processes, and identify new types of e-procurement tools that will meet their needs. Find out what SafeSourcing can do for you.

For more information on how SafeSourcing can assist you in exploring your procurement solutions for your business or on our “Risk Free” trial program, please contact a SafeSourcing Customer Service Representative.  We have an entire customer services team waiting to assist you today.

We look forward to your comments.

References…………………………………………………………………….

[1] Maranville, S. (1992). “Entrepreneurship in the Business Curriculum”. Journal of Education for Business. 68: 27–31.

 

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