Saturday 28 May 2022

Will disruption ever come to an end? These are the predictions 2022

Companies continue to recover and are looking for solutions to manage their ongoing sourcing challenges, says the online business journal, Revista Summa

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28 May 2022 - At The Banks - BCCR

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QCOSTARICA (Revista Summa) Despite everything that happened in 2020, 2021 continued to bring us even more surprises. At this same time last year we were eagerly awaiting the release of the vaccine and a return to life as we knew it before COVID-19.

Fast-forward to today and we are still witnessing the lingering effect of the pandemic, which continues to wreak havoc around the world, with widespread supply chain disruption and variants of the virus continuing to sow uncertainty.

In 2020, panic led to a level of buying that caused toilet paper shortages. In 2021 we were dealing with the impact of the microchip shortage in the high-tech and automotive industries. And for those of us who didn’t do our holiday shopping before Halloween, some gifts may not have arrived until now. To top it off, every industry, from foodservice and retail to manufacturing and logistics, is scrambling to fill job openings to meet growing business demand in the face of continually evolving COVID restrictions.

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On the positive side, companies continue to recover and are looking for solutions to manage their ongoing sourcing, supply chain and workforce challenges. We asked SAP global thought leaders for their perspective on what to expect in 2022. Here’s what they had to say:

“The impact of the lockdowns caused by the pandemic underlines that the world economy is a network economy. Organizations know that no one does business in isolation: success depends not only on a company’s ability to deliver, but also on the ability of all the entities that make up its supply chain. To adapt to ever-changing business challenges, procurement and supply chain process leaders will increasingly look to cloud and network-based solutions to deliver the innovation they need to facilitate continued alignment of your spending strategy with your business strategy,” – John Wookey, President, Intelligent Spend and Business Network, SAP.

“Clogged freight ports, rail network delays, and gas supply shortages and microchips… 18 months later and we are still feeling the economic repercussions of the Covid-19 disruption. We expected business to return to ‘normal’ in 2021. As we enter a new year, we realize that ‘disruption is the new normal’ and resilience is a top priority. In 2022, companies must formalize resilience, building sustainable supply chain execution that supports business growth. Despite the volatility, organizations need to step back and consider spending holistically. An integrated approach to spend management that spans purchasing, outsourced workforce, and travel and expense management will provide clients with the visibility and agility they need to adapt to changes in their markets while continuing to drive their business goals,” – Etosha Thurman, SAP Chief Marketing and Solutions Officer.

“Nearly two years have passed since the pandemic began wreaking havoc on businesses around the world, exposing the fragility of linear supply chains and the need for a more interconnected economy. During this time, many companies changed their vision of the purchasing area, from being a cost control to being a strategic enabler. Entering 2022, many purchasing leaders are tasked with aligning every spending decision with their overall corporate strategies. To best fulfill this responsibility, these professionals will need an integrated view of total spend across the enterprise and deep within its supply chain. This level of visibility will enable the information sharing and collaboration that is needed to contribute to stronger business benefits, including better inventory management, more predictable lead times, alternative sources of supply, increased supplier compliance and, of course, Of course, ongoing cost savings,” Jeff Collier, SAP’s Chief Revenue Officer

“If 2021 has taught us anything, it is that even the best of predictions failed to anticipate some of the challenges the world has experienced. Instead, what happened was that procurement organizations stopped simply managing and optimizing processes and became essential for solving critical problems. for business. In 2022, procurement professionals must be bold in embracing this mandate and coming up with solutions that help businesses navigate rough and uncertain waters.

Creative sourcing solutions can address some of the biggest challenges businesses continue to face today: managing supply shortages, rethinking a globalized supply chain, leaning on a vibrant external workforce in the face of the ‘Great Resignation,’ and focusing in working capital time of rising global inflation. Let’s be bold and redefine traditional paradigms to address these challenges,”- Baber Farooq, SAP’s Head of Market and Solution Strategy.

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Read the original, in Spanish, at Revista Summa

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Reports by QCR staff

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