Let’s face it, 2020 changed everything. The way organisations operate has fundamentally shifted and many activities that have previously been done over a cup of coffee in a meeting room, are now done virtually, or not at all. Whilst this shift was caused by the pandemic, many organisations and their employees are enjoying the added flexibility and cost savings associated with remote working which means for many it’s likely to stay. Given this fundamental shift, how will buyers manage their suppliers ‘virtually’, and even unlock the five key benefits of SRM. Below are my top tips for keeping your supply chain performance up, right from your own home:
Data is king – Being able to access the right information and analyse it to tell a story is mission critical. It is even more important in a virtual world. KPI data, balanced scorecards, dashboards etc. are key ways of understanding your supplier’s performance. You can only fix something you know is broken. The pandemic may have reduced your supplier audit schedule, but are there ways you can ask for more information that can help reduce the risk? What about monthly submissions of their accident logs, monthly submission of their CI logs? Rather than physically visiting and seeing their activity, you can receive copies of the data that allow you to understand it remotely. Virtual Meeting Rooms – Most people will likely agree that there is little that beats a face-to-face meeting in terms of building a relationship. However, virtual meeting technology has become so good in the last 12 months it has become almost as good as meeting face to face. Yes, there may not be a free branded mug as a souvenir of your suppliers visit, but there also isn’t the travelling and time away from family. When you really think about it. There are hardly any meetings that cannot be done remotely. Video – If the pandemic has taught us anything, it’s the power of video! Why does our use of video have to stop at virtual meetings? Video can be used to share any manner of activities. Want to see a production line at your supplier’s factory? Get them to record a video and share it with you. Want to see your supplier’s new innovations? Get them to record a video. In the UK, 84% of adults have a smartphone, of which almost all are capable of recording high quality footage and sharing it with others. Going Paperless… – The final point here is a sustainability one. The pandemic has taught us that we can live without the office printer, we can use digital documents and even sign contracts electronically. Therefore 2021 is the year to put the print queue behind you and move into 2021 and beyond in a paperless, and more sustainable fashion.
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