Nice weather for buyers
In England we have a phrase: nice weather for ducks. It means it’s miserable, rainy and wet. But still … nice if you’re a duck.
Reading me Economist this week (10th Jan issue) for the first time in a few months. First article in the Britain section is called Combating the Recession. Here’s paragraph 2:
The bank’s [latest rate cut] means that the base rate has now fallen by an extraordinary 3.5 percentage points since the start of October. It followed a clutch of closely watched business surveys of purchasing managers that painted a dismal picture of the economy in December. (my emphasis)
It’s a bit of a commonplace that the worse things get for a business the more it looks to departments such as procurement to dig it out of a hole. But even so: What an opportunity! If more and more people are sitting up and paying attention when buyers speak, perhaps now, finally, “the business” will act on all those things you’ve been hammering on about for goodness knows how long.
Of course the attention on buyers and the opportunity this represents only exist because of the wider crisis going on. So this opportunity for buyers also represents a challenge: Develop the necessary credibility within your organisation so your views are taken equally seriously once we are out of this recession …. and so business don’t wait until the next economic slowdown to consult their procurement departments again.