Our software is continuing to support businesses around the world to reduce the impact of Covid-19 on their supply chains.
Here are the top ways we can help you now:
Run a Free Covid-19 RFI
We are now offering all businesses access to our platform to run a free Covid-19 Risk Awareness RFI. We have uploaded a pre-built template into Market Dojo to make this process as simple as possible.
Running this RFI allows you to analyse the impact of Covid-19 on your supply chain and mitigate risk by communicating with your suppliers. Our template asks how your suppliers have been affected, what they can do to support you in this time and promotes the collaboration of innovative thinking.
Using eSourcing to mitigate risks
As part of our previous blog,’Tips for procurement during Covid-19’ mitigating risks is a supply chain number 1 priority. However you are normally not just looking for one solution, but options.
eSourcing has the ability through its flexibility and efficiency to run rapid RFIs and tenders to help identify risks and differing supply options and alternatives.
For businesses who operate with sealed bids and are unable to meet in person, this functionality is also covered virtually in Market Dojo.
Help with costs
We agree that promoting auctions at a time when the whole supply chain is suffering isn’t the right message. This is why we would promote the use of the other capabilities in the tool such as the speed to find other options and weighted tenders for example.
However, price is still important and some light touch virtual negotiation is available through the tool such as a multi-stage RFQ’s.
Unfortunately, what we are seeing is some suppliers taking advantage of this crisis to hike prices on categories such as PPE. This is where we are finding clients coming to us looking to auction these categories. We are quite flexible with the payments terms in these cases and have even done no win no fee.
Free Consultative Advice
It is business as usual for our team of procurement specialists and we are still here to offer any help and advice. Our team are happy to take any consultative calls to assist with strategising your procurement process and categories or running tenders through our tool.
Centralise communication and data
Our cloud-based solutions help centralise your procurement processes into secure platforms. For teams that are no longer able to meet face to face, our systems promote internal collaboration online by delegating users tasks and approvals. For Supplier onboarding, SIM Dojo allows users to assign certain questionnaires to be approved by different departments.
If a member of your team is absent, you can pick up where they left off using tailored view and edit permission functions.
By centralising your projects and all communication with suppliers, you will not run the risk of missing any emails, quotes or spreadsheet attachments, with all responses managed in one place.
Even if this isn’t for you now, it is one to consider for the future to put yourself in a stronger position should a crisis like this ever happen again.
Offering extended payment terms to companies in crisis
Finally, we are now trying to support businesses most affected by the current crisis by offering the opportunity to apply for extended payment terms. This ‘Use now, pay later’ model, allows businesses in need to utilise our solutions, to manage data, mitigate risk and minimise costs.
Secondly when you have a bit more time, here are some other ways we assist:
Contract Deadline notifications and management
Contract Dojo allows teams to maintain compliance and keep on top of contract expiry dates using inbuilt notifications and alerts. It presents a safe way to store and access contracts from anywhere in the world, with user assigned access permissions.
As part of this process, the procurement team will most likely be looking at and organising all their contracts. Maybe take advantage of this to put them into Category Dojo. There is a free part of the tool available to store your first 10 contracts.
Supplier Collaboration and innovation
Our SIM Dojo tool is used to centralise data on your supply chain from elements such as onboarding through to surveys on GDPR. The centralisation of this data is invaluable to our clients in these times.
However, if you don’t have a system like this already, we understand that this may not be the time to start putting your onboarding process online. However, you could use this tool to allow you to run some specific questionnaires with your supply chain.
Our other platform Innovation Dojo allows users to interact with their suppliers and supply chain, to identify opportunities for collaborative improvements in your processes. This could mean material substitutions or changes to freight or delivery processes during this time.
We have a nice tool to help understand category strategies and opportunities. Again, you may well not have the time to go into this now, but some of the elements of this tool could be worth examining with a pen and paper.
Some key elements which you can do on your own is to understand
This will all feed into your risk analysis.
For more information on how Market Dojo can help support your procurement strategy, please contact a member of the team today.
We are wishing the best of luck to all businesses in this challenging time. Stay safe everyone.