Question

What do you mean by procurement crisis ? pls answer

Answer 1

Explanation:

Procurement departments are demonstrating their responsiveness to the economic and health crisis caused by COVID-19 on a daily basis. That is why it is interesting to share the experience gained and derive a crisis management methodology for procurement from it.

Procurement Leaders [1] has been working on this idea and suggests an approach with five strategies. For procurement departments, crisis management is based on:

Establishing a specialist risk management team

Focusing on the strength of the supply chain

Cultivating disruptive partnerships

Innovating to keep up with customer challenges

Accelerating the digitalisation of procurement processes