Coronavirus has sent shockwaves through the world’s supply chains. As countries locked down and travel restrictions kicked in, there was a rush to
find new suppliers and plug gaps that were starting to appear. Procurement
managers took unprecedented risks to keep the show on the road and
supply chains, which previously had been rigorously managed, began to
fray at the edges.
“In early-lockdown, the need to react swiftly outweighed the risks
of a streamlined due-diligence process,” explains Paul Massey, product
director at management company Proactis. “There simply wasn’t the
time for laborious processes of any kind; all parts of the supply chain
management process were accelerated. If you were lucky, the gaps
were then filled in retrospectively, but in many cases the risks were
simply accepted.”
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.
