What changes might we expect after the COVID-19 pandemic?

They say that the only constant is change. These words have never been truer than during the COVID-19 global pandemic.

Many people are wondering why all the fuss is being made for a flu. Some are feeling the claustrophobic presence of an entire family in lockdown in one place – for which no house could be big enough. Then there are those whose lives have been changed forever due to the loss of a loved one.

And yet, a time will come when the crisis has passed. We will open our doors and walk out into a warm and welcoming sun. We will take a breath of fresh air that is devoid of threat. Beyond that initial moment of relief, will the world still be the same? If not, what should we expect?

In this article, we will examine how COVID-19 will change the procurement profession as a whole and each of the individuals within it.

Rethinking the Homefront

When we think of a home office, most of us probably envision a room somewhere in the house to be diligently guarded against the inevitable invasion of children who want to use the computer.

While a growing number of companies already enabled their employees to work from home, most were cautiously dipping their toes in the water to see if it was a viable option. As a result of the measures to slow the spread of the COVID-19 virus, a toe-dip has quickly turned into full submersion.

Since there are predictions that our present state will be the new norm for a few weeks or more, organizations need to create work-from-home policies on the fly. This includes setting employees up with the necessary technology and connectivity.

After going through all of this, how many companies will return to the status quo?  

Rethinking the supply chain

In a previous post, we talked about how our over-reliance on China as a major source of supply is a problem. Organizations must now rethink how they will develop supply chains in a post-pandemic world to ensure that we don’t experience the interruptions that led to factory closures and product shortages again.

Procurement will be called upon to step up in several key areas, including education.

In 2019, Deloitte shared the results of a survey in which 63 percent of CPOs felt that their teams did not possess the necessary skillsets required to deliver on the organization’s strategic objectives. Procurement professionals need to understand the extent to which their roles will change, and either acquire or expand on their current skills to remain relevant in what will be a highly uncertain marketplace.

?Rethinking our state of mind

The office environment is changing, as are job requirements. What else might we expect?

Many small upstream suppliers, as well as other vulnerable businesses, are facing the risk of bankruptcy. Governments are scrambling to keep businesses and individuals afloat through multibillion-dollar emergency funding. What you previously knew as fact may not be the same when this is all over.

More than anything, dealing with these changes will require a new level of mental toughness. For many, this is the first world-level crisis they have faced. Even if you are not infected with the virus, being part of a quarantine means that COVID-19 isn’t something that happened to someone else. You are a part of it.