Perils of Efficiency: Procuring Supplies During a Crisis

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DARLINGTON, U.K. - eTradeWire -- Although lockdown has hit many industries across the world, some businesses have managed to remain somewhat operational, with supply and demand still existing for some products and services. However, during periods of extreme volatility and when business and supply and demand can shift drastically, procuring supplies can become almost impossible and can seem to ground to a halt. This can be a problem for some as many businesses in the UK rely on fast and efficient supply chains which are highly integrated and often operate cross-border.

According to a report by Supply Management Insider, four major sectors account for almost 75 per cent of businesses — services, retail, financial services, and manufacturing and construction with the latter hit hardest by the pandemic. Shipping data reveals a focus on the needs of healthcare services, ranging from medical supplies specifically, electronics, and plastics for personal protective equipment (PPE). In the meantime, demand for fashion, vehicles, and furnishings has fallen significantly.

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Any supply chain is as good as its weakest link, with companies having to evolve and adapt quickly to survive the current situation. Here, we'll advise how to procure supplies during crises and how to prepare.

Monitor your machinery and assets closely

Although you should already be ensuring your machinery is in tip top condition and monitoring anything that might look peculiar or out of the ordinary, during the current period it's important that this is a priority. In the event that you need to procure something specific to keep your operations running smoothly and uninterrupted, you'll need to make sure you can procure it without delays or disruptions. For example, if you need piston rings (https://www.fpeseals.co.uk/seals_1/piston-seals_1/piston-rings_73/) to prevent fluid leaking, make sure you plan in advance to prevent downtime.

Source: FPE Seals
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Filed Under: Engineering

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