40% of firms find better post-COVID suppliers

In a recent survey, reported by the Chartered Institute of Procurement & Supply (CIPS), 41% of firms said that they have found “new and better” suppliers to work with as a direct result of coronavirus.

The survey also found that 57% found the outbreak an “incentive” to make positive changes to their business model, with 35% are now using cheaper suppliers than those they had worked with previously

The survey of 502 senior decision-makers confirmed that the pandemic has been damaging and challenging for the UK’s private sector, but it has also presented opportunities.

The report highlights how Covid-19 has forced businesses to re-evaluate their business models and supply chains, enabling them to make improvements to the way they operate.

The worst impacts of the economic costs of the pandemic are confirmed, with 36% of respondents stating that businesses in their supply chain had closed down since March and over half (56%) had had to change how they delivered their product or service.

And while there is a sense of optimism from the business leaders, with a positive second half of the year anticipated, only 52% expect their turnover to grow in 2020.

The reports findings are in stark contrast to the doom and gloom of three months ago and suggest that businesses are not becoming complacent, but are actively seeking new opportunities while overcoming the challenges of the pandemic.

Although much of the foregoing detail and survey responses relate to the supply of products, the drive for continual improvement, even in the midst of a onadmeic, apply equally to logistics and freight. 

Metro have continued to enhance our platforms over the pandemic period, launching initiatives and driving innovation to deliver cost effective and reliable solutions, during a turbulent and unpredictable market. 

We also strive to look into the future, by anticipating further changes with Brexit and further supply chain impacts from Covid19. 

Metro have continued to attract new business from clients over the last 6 months, many of whom are reassured by our consistent long term approach to our business continuity and strategic planning. 

For further information on our solutions please contact Grant Liddell, Business Development Director (grant.liddell@metroshipping.co.uk/ 07817 477926) who will be delighted to assist you and present all options available based on requirements and expectations.