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5 PROCUREMENT STRATEGIES FOR NAVIGATING THE COVID-19 CRISIS
The world has changed radically since the outbreak of the COVID-19 pandemic and governments and businesses around the globe are reinventing their capabilities and strategies. Here are five procurement strategies that have helped keep commerce flowing, despite the pandemic:
Traffic jams need traffic cops.
The pandemic has caused multiple disruptions in the global supply chain. In such a situation, governments can play a critical role in mandating purchasing rules that keep the supply chain running without compromising on stakeholder safety. Centralizing procurement of essential goods can help simplify this process and prevent unnecessary competition and price wars in uncertain times. Italy, for example, has benefited greatly from its government procurement agency taking responsibility for procuring ventilators and distributing them equitably.
Timeliness and Coordination
Given the sweeping impact of the COVID-19 virus, time is at premium. Greater focus is on the timely delivery of the right quantity and quality of essential items rather than their price. With governments taking a more proactive role and multiple decision-making bodies involved, the communication trail is expectedly long. In order to expedite operations decision making has to be prompter and inter-department communication has to be more coordinated. Electronic procurement has proved particularly helpful in cutting down time considerably.