How can COVID-related supply chain issues actually help your business prepare for the expected upturn next year?
While the economy may technically be in a recession, recent data is showing that the manufacturing sector, among others, is growing well. It’s even been reported that August saw the fastest increase in new orders since November 2017.
An immediate recovery is not guaranteed though. From our conversations with clients and others, it’s commonly accepted that the manufacturing sector will be back to business as usual by next year.
Issues with the supply chain have uncovered a significant inefficiency
Over the last few months we have had many discussions with manufacturers who were dealing with issues with their supply chain.
While this was clearly a widespread issue, it also uncovered a significant inefficiency within many business models- their tendering process to collect, compare and decide on quotes from suppliers.
Where are these inefficiencies?
As we are finding with some of our own prospects and clients in the manufacturing sector (and other sectors), when many businesses ask for quotes from suppliers they get lost among the hundreds, if not thousands, of emails that are received weekly.
Additionally, when suppliers, or even the business that is asking for quotes, have to manually re-key the data from a previous quote (usually from a spreadsheet) this process provides opportunities for errors. In some instances, it can even mean that new quotes are needed.
How can this help your business prepare for the future, including the expected upturn?
Now that this inefficiency has been uncovered, we would recommend that you seek to plug the gap.
One of our previous articles, for example, looked at data entry being a key inefficiency within many businesses, and highlighted how bespoke technology built on the Claris FileMaker platform could help with this.
Our team have recently, in fact, been having discussions with a number of prospects and clients who are seeking to deal with this gap in their tendering process.
The solution we have organised includes the use of an online portal, with suppliers being able to provide their quotes and to see their previous quotes. The portal would also have the functionality to highlight the most appropriate quotes submitted to the recipient.
Now that we have uncovered this inefficiency, don’t ‘paper over the cracks’
After more than 15 years in the software development industry, working with clients across many sectors, our experience tells us that many businesses will ignore the issue, and that they may come unstuck as their competition becomes more efficient in the months and years ahead.
As you plan for the coming months, and as the economy returns to the new normal, we welcome you to ask yourself the following: do you want to be in the same position as you were before this downturn, or do you want to be more efficient and streamlined, and ahead of your competitors?
At Data OPS we focus on solving your business challenges by improving your productivity, and increasing your profitability, using bespoke software.
We use Claris FileMaker, the leading workplace innovation platform, to build custom applications to automate your business processes, including your tendering process.
To have a no obligation discussion about how we could help you find the right solution, please contact our Workplace Innovation Specialists on email@example.com