Based on our procurement experience, not least the learnings from the 2008 financial crisis, we have made a checklist of recommendations that we recommend you to focus on. The checklist is not rocket science, but the fundamentals of good procurement principles have perhaps never been more important than now.
- Update and maintain your supplier risk management
- Understand, monitor and follow up on procurement requirements
- Identify business-critical suppliers and mitigating actions
- Mitigate potential supplier disruption with alternative suppliers
- Mitigate possible supply constraints by consolidating product portfolio
- Efficient decision-making requires right governance structure