It is time we return to the fundamentals of Procurement and Supply Chain!

Around the same time two years ago, the Covid-19 pandemic shook the world. As a result of this crisis, many parts of the world had gone into lockdowns, economies tanked, shops and businesses were closed, and many companies went bankrupt. Fast forward to now, many companies across sectors and also in the product manufacturing sector - where it is difficult to come out of such a tumultuous situation - have come out successfully.?

What was the reason for this success? Procurement and sourcing played a significant role in facilitating the turnaround.?

While it may take some time to completely recover from the worst of the disruptive impacts, one of the reasons the companies have weathered the storm was that they returned to the fundamentals of procurement and supply chain management. Or never left them.

Congratulations to those who have helped their companies weather the storm. But, it is high time we celebrate the resilience and return to the fundamentals, and procurement and sourcing can be a leader in this journey.

From assessing lead times, focusing on the planning and forecasts, managing inventory (part codes, date codes, etc.) to keeping a check on indirect spending, organizations must stick to these fundamentals to ensure resilience, achieve faster product delivery, and save more on the bottom line.?

And Zumen understands this better. Procurement and sourcing teams have always been and will remain a driving force behind an organization's success. As they have been doing this for ages, they know what they are doing, but they haven't always had the tools that work the way they do.?

It is time the software tools catch up!

Think Sourcing. Think Zumen.

Visit www.zumen.com to know more.