New Category Management research dives into benefits, best practices, and steps for building your program.
Personal Protective Equipment
Many companies across several industries still report that increased demand and constrained supply chain for PPE are major concerns.
Supply management is taking action during COVID-19 crisis by shifting to alternative sources.
Suppliers Financial Health
72% of companies use 3rd party tools to monitor supplier financial risk. The pandemic may drive this even higher.
Hurdles to Remote Work
Among many hurdles of remote work, 56% of respondents are unable to hold face-to-face negotiations with suppliers due to the pandemic.
CPOs report a slowing of discretionary spending, capital investment, and expansion plans, but the Services sector is driving these numbers the most.
According to a recent CAPS Research survey of Fortune 600 CPOs, 42% of companies are changing their forecasts due to declining demand, resulting from the pandemic.
As a result of the COVID-19 pandemic, companies are increasing material inventory across the board, led by the manufacturing sector at 55%.
Assessing sub-tier suppliers
In a recent survey, "Responding to the COVID-19 Pandemic," 75% of CPOs say they're assessing sub-tier suppliers - a drastic increase over last year's data.