Companies are looking for more specific terms and indexed pricing to account for the delays, soaring costs in supply chains
All you need to know about who is affected and why it’s the worst supply chain crisis since the 1970s
Inflation is a word that has been on the minds of every procurement team in 2021. We are seeing a sustained period of supply shortages and price volatility of the kind that most commercial professionals will not have experienced in their working lives. In one way or another, it is having an impact on virtually every business.
During this period when we begin to establish gradual plans for easing lockdown, we insistently boast on the concept of change, tomorrow will be different, thanks to this crisis which should lead us to brainstorm on and overhaul our way of acting, behaving, working, consuming, with a vision which would ultimately be more human-driven and humanistic.
For this first article, I will not deal with crisis management but the necessity to think already about what next. Indeed, “managing effectively is all about foreseeing”, even if we can regret (again) that risk management is not a priority yet for many activities: that’s well-known, a crisis only matters for others and, of course, Chernobyl disaster radioactive cloud stopped straight at the Franco-German border…
Very valuable and informative insight from Lora Cecere about rethinking and reshaping your supply chain management during this COVID-19 pandemic crisis. With two very concrete actions (also initiated during Fukushima crisis by Automotive sector): establish a war room to monitor availability of supplies and potential burdens while interacting purposefully with suppliers (tier 1,2,3…) AND work immediately on your Supply chain design.
A short article insisting again on the crucial and necessary involvement of Procurement teams into risk management as quite valuable process along with the relevance to adapt purposefully your organization.
A very interesting round table on crisis management at the initiative of Méotec Lyon in which CPO Plus participated.