- March 13, 2020
Staying Prepared in Procurement During COVID-19
In the past year, risks of diminished stock plagued the Canadian supply chain. Increased costs due to threats of U.S. tariffs, a continuing Intel Chip shortage, and manufacturing delays on Chinese hardware due to COVID-19 have introduced unique challenges that must be addressed. Due to these global external factors, organizations must have a sophisticated procurement partner to manage change while staying in front of all threats to supply chain stability.
In this time, businesses need partners that have the expertise and experience to navigate the impact of technology supply constraints. Forward-thinking businesses have invested in resources and technology to be proactive instead of reactionary. This provides them with insights to inform their clients effectively. It has become crucial to provide real-time visibility into the channel and use data to forecast upcoming changes.
COVID-19, being a global issue, impacts everyone in the supply chain. Organizations need help in avoiding costs whenever possible. It is important to work with a partner with the capabilities to understand the economics surrounding your industry’s supply and demand state. This allows for innovative strategies to procure technology from around the world.
As organizations work to transform to continue operations amongst the pandemic, procurement is one of the essential services that they require. Business continuity planning, managed inventory and leveraged distribution warehousing are key areas in driving additional value to your procurement model.
WBM Technologies is aware of how COVID-19 could affect your business. They have analyzed and discussed possible scenarios that would create significant disruption for our partners across distributing and manufacturing channels. The cost of procurement requirements pulled forward in the anticipation of potential disruption is now well into the millions of dollars. WBM Technologies is working alongside our clients to make these procurements requirements happen in a way that makes sense of their business.
One of the ways they are doing this is through the enterprise adoption of cloud platforms like Microsoft Teams. These tools allow for remote collaboration with all clients. They also have progressed in remote monitoring, alerting and predictive analytics capabilities. This means that, while COVID-19 could very well impact all of us, WBM Technologies is well-positioned to deliver high-level business continuity and support services. They’ll be able to carry on business and serve their clients while complying with emerging policy and workplace requirements internally and from their Enterprise clients.
We can’t escape the health issues, and resulting economic and political impacts, that disrupt global supply chains in an interdependent world. It’s time to work with a procurement partner that monitors the threat landscape, builds business continuity plans surrounding those threats, and keeps you up-to-date on the strategic response to threats as they arise. By working with a community aligned with this approach, supply chain disruption can be managed proactively.
