Walking a Tightrope During Coronavirus

Walking a Tightrope During Coronavirus

Dealing with the Coronavirus is like walking a tightrope.

Put one foot in front of the other and don’t look down.

Some of you will be busier than ever due to the demand for your products or services.

Others will need to continue to engage with customers especially if you are in shut down mode.

Many should consider how they will conduct business on the day no new cases are reported.

All must rethink their business plan and how they deal with unexpected interruptions.

Most of us remember the financial crisis of 2008 and September 11 and how we came back stronger.

If I had to put this in one word it would be Focus.

I write this blog every Monday and it feels good to do this today. 

I also plan on completing tasks that I have avoided because they aren’t my favorite things to do.

What would be on your list?

Here are some things to consider:

  • Speak with key suppliers and service providers to learn if they expect service or supply interruptions. Determine how that can impact your operations and set a plan to mitigate.
  • Identify the spend categories with opportunities that may have been overlooked.
  • Create a target list of contracts that are up for renewal in the next 90 days and identify opportunities to save time and/or create efficiencies.
  • Review the internal process to request services and products and consider what steps could be eliminated, consolidated or streamlined.
  • Ask stakeholders what changes would make the process easier.
  • Consider how you could increase visibility and transparency to business owners.
  • Investigate available solutions to automate manual processes and consider setting up demos.
  • Clean up your supplier database (this is probably an ugh type task but will provide time savings going forward).
  • Brainstorm with your colleagues and suppliers for ideas.

Every crisis has opportunities.

New ways of doing business will be created by people that looked ahead and not down.

If you have extra time, because you aren’t travelling, or meetings have been cancelled and you want to chat I can make time.

Action Step: Finding the right tools for your needs can be a challenging process but it doesn’t have to be. If you are uncertain where to start the process of change, a procurement professional like myself can provide guidance and expertise to help your organization achieve the results you want. If you want to go explore this topic in greater detail, please contact me. I invite you to request 30-minute discovery conversation. In my experience the next step will be apparent at the end of the call. I never assume that what I have to offer will be right for everyone, so don’t expect a sales pitch. You can reach me at (973) 718-7071 x875. The call will be forwarded to my mobile phone if I am not in my office which is likely. 

If you would like to know more ways to reduce costs without changing the way you do business, simply give me a call or send me an email with your contact information and the best time to reach you.

You Won’t Drift to Success©

Commit to taking the next step.

Until Next Time, I Wish You Great Success in Your Business and in Your Life

Mike Jeffries