Understanding the impact – survive & thrive.
The Survey was completed by over 200 senior procurement and finance leaders throughout lockdown and examines the effect of the pandemic, the immediate responses to the crisis, and strategies for recovery.
Procurement functions have always needed to be at the heart of your businesses operations, managing complex supplier relationships and central to future profitability. Procurement & Finance Leaders are employing a wide range of commercial and logistical responses; from collaborative supplier support, to commercial renegotiation and re-contracting, rapid sourcing of new suppliers or complete supply chain reconfiguration. The survey highlights a timeline of challenges that will need to be addressed as economies unfreeze and businesses restart.
Underpinning the responses, is a common view that procurement functions must become more agile, flexible, and responsive.