COVID-19 - What can you do to protect your business as well as your people?
As CIPS offers some sensible advice to organisations on how to minimise the impact of coronavirus, taking steps to protect your business, as well as your people, is crucial for rapid future recovery say Procure4. With reports of declining EBITDA and negative topline growth as a result of Coronavirus, an effective way value can be created quickly is from within your existing supply chain. While one of the pieces of long-term advice CIPS provides is to review contract terms and seek out alternative sources of supply, expert insight can quickly see what value can be derived from your total supply chain. By optimising your supply chain, unrealised EBITDA can be delivered directly to your bottom line, sometimes within just 3 months. And, while the impact of Coronavirus on consumer confidence may only be short term, the supply chain savings delivered will continue feeding through to fuel your topline recovery for years to come.
Read the full CIPS article here: https://www.cips.org/en-GB/supply-management/news/2020/march/coronavirus-cips-10-ways-to-minimise-the-impact/