Procurement professionals, especially those responsible for the Sourcing of goods and services, are used to dealing with large swings in demand and supply. But the effects of Covid-19 are proving extremely difficult for even the most adept sourcing practitioners.
The recent situation has intensified levels of uncertainty faced by sourcing professionals, including price volatility, mounting supplier failures, recurring capacity and material shortages or oversupply.
There are, however, some best practices and tools that can help deal with not just uncertainty in demand and supply, but supplier failures, price volatility, and supply chain risk.
Proactis Holdings Plc (LON:PHD) develops and sells business software, and provides installation and related support services in Europe and the United States. The company offers Spend Control and eProcurement solutions that help organizations to improve operational and financial performance by enhancing the way they buy various goods and services.