The Covid-19 pandemic has brought dramatic change to procurement processes. Given the critical role procurement plays in cash flow and net working capital, companies should be aware of what they can do to navigate the crisis and support the business. Bain Partners Caperton Flood, who leads Bain's Global Procurement practice, and Chuck Miller, who leads Bain's Procurement practice in the Americas, share their insights on the expected impact on procurement and what leaders should do to prepare for the future.
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As the global pandemic deepens and the human cost of Covid-19 rises, the novel coronavirus outbreak is sending shocks through the world economy. But across industries, companies can take action now to protect their employees and customers and minimize the economic damage.