There’s no doubt that people, businesses and entire countries have been shaken by this global pandemic. But, we’ve also seen these same individuals and communities rise to the occasion, working very hard to flatten the curve as it relates to the Coronavirus—and we’re beginning to see businesses take action to ensure they’re ready once the economy picks up. Short term plans are in motion to manage cash flow and inventory, but what about life after the curve? Will we face a recession or depression? Will things bounce back to normal?
What can/should you be doing now?
While we can’t control the greater, global market we can control our supply chain and cost structures which have a significant impact on Margin and Bottom-Line Results. Here are a few tips to make sure you’re prepared:
- Act now and use this downtime to document business needs, wants, interests across over 64 areas of cost
- Collect and review spend data
- Review and update drawings and specifications so suppliers can accurately quote
- Identify supply sources both domestically and abroad to get a true market benchmark using your geographies, part mix and volumes, and operational needs
- Build out detailed, waved implementation plans for direct, indirect and transportation spend categories
- Find top rated internal and cross-functional resources to place on category teams
Why is Gibson Consulting poised to help you?
With over 40 years of firm experience Gibson Consulting has seen it all. We’ve helped our clients survive the market ups and downs of war, natural disasters, financial meltdowns, recessions, and now pandemics. We work side-by-side with our clients, and our proven process allows for Management decisions driven by facts and data—not hearsay or reaction to daily headlines. Don’t take our word for it, our clients tell the story best.
Although our preference is to engage and work side-by-side with you and your teams we realize that is not a prudent option today. With this in mind there is still a lot of work, planning, data analysis, and value that can be done remote.
We will have a near-term window where suppliers will be aggressive in going after business to get their businesses back up and running.Give us a call and let’s get started today to proactively address market conditions and make sure you’re ready for business beyond the curve.
We are here to help!
Please contact us at +1 (312) 291-4640 and ask for James Keller.
Byline: James Keller is an experienced leader in Operational Management Consulting focused within Global Supply Chain & Procurement. Mr. Keller has over 20 years’ experience helping Fortune 1000, Private Equity and Middle Market companies add billions to their bottom lines.