Rob Handfield, professor of operations and supply chain management, breaks down how companies can achieve supply chain continuity. According to Handfield, being cognizant of your suppliers’ financial stability and developing payment options to help them through challenges during the pandemic.
“Many suppliers have less than two months of cash available,” said Handfield. “Purchasing managers should reach out to their suppliers regarding their cash flow and working-capital situation, debt level and ability to pay workers.”
Read more on the Institute of Supply Management.
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