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.
Travel Bans and Revenue
Are the U.S.-imposed travel bans impacting your company's revenue? CAPS surveyed 74 CPOs of Fortune 600 companies, and we're sharing results broken down by sector.