The Coronavirus (COVID-19) pandemic and 2020 recession are creating new stresses and disruptions in the global supply chain that are now presenting themselves. In today‘s hyperconnected economies, the response to supply chain risk has primarily been “reactive”.
In this two-part blog series, we’ll take a look at how to better position organizations in order to improve business continuity and resilience. Part 1 looks at the current state of collaboration between procurement and finance, and what these two teams can start doing to improve workflow, efficiency and bottom-line impact.
While many fundamentals suggest the U.S. economy remains healthy, there are also looming signs of a slow-down. If a recession takes place, procurement and finance professionals are likely to be the first in their organizations to perceive and deal with the impact.