Three months into the COVID-19 crisis, what is the status on procurement? What are the concerns? And what should the immediate actions be?
In April 2020, DILF and Valcon conducted a survey to learn how companies are impacted by and managing the current COVID-19 crisis. Based on the findings in this survey, we have identified a number of recommendations to address these concerns.
KEY FINDINGS FROM THE SURVEY
- The majority of respondent companies have moved closer to their suppliers
- Only a minority of the respondents have prepared for possible changes to procurement volumes and the financial impact of the COVID-19 crisis
- <30% of the respondents have identified alternative suppliers
- <20% of the respondents were well prepared for the crisis. The majority has to prepare for a new normal