A bit over 18 months have passed since the majority of the globe locked down due to COVID-19. As we continue to acclimate and adapt to the ongoing pandemic, we see some signs of recovery. The manufacturing and packaging industries, however, continue to struggle in many areas. These struggles have required procurement executives to become more agile and diverse in their approach to finding the most cost-effective packaging while also problem-solving when others come up short.
In our experience, whether it’s a packaging, transportation, temp labor, or a telecom agreement, saying “no changes, here’s my signature” is a classic blunder.
Staring down the barrel of budget planning for 2020? For many managers working with a calendar-based fiscal year, the dog days of summer also mean the advent of the annual planning cycle. Given all the uncertainties in the past few quarters, odds are that department heads are being asked to “do more with less,” or at least step up output at a faster rate than costs.