How to Recession Proof Your IT Purchasing Requirements

Last year there were numerous warning and surveys supporting the idea that a recession was possible or even probable during 2020. Though making predictions about global economy is always tricky the global politics, tariff wars and the end of a boom cycle were cited as the possible triggers. CV-19 crisis has made sure that a global recession is inevitable in some shape or form.

Very few businesses will escape short or long-term disruption but as so much has been written about that, let’s instead focus on three things seem certain in the short-to-medium term.

1. Technology in the last recession was tagged as an area to cut but this time around technology is part of the solution, not the problem. Clear evidence of this, even at this early stage, is in the surge in demand for remote working and collaborative communication tools. Read our free report with demand surge statistics: The Indirect It Procurement Dilemma - Solved

2. Pressure will come to bear on procurement professional to cut costs where they can without significantly reducing the value they receive from suppliers. Streamlining and reconfiguring procurement departments will be on the agenda of many companies. This may involve reallocating staff to strategic projects or other vertical categories

3. Despite the current distraction of CV-19, the climate issues, and its possible links to health and well-being remains. Sustainability is still on the minds of consumers and so larger companies’ sustainable IT procurement goals will not take a complete back seat during the recession.

Having a secure supply of necessary IT equipment to maintain and streamline operations will become a critical factor and yet budgets will be tight and procurement personnel levels may be reduced and/or team members will be expected to achieve more with less time.

Whichever IT supplier(s) you choose the systems and services they offer must be resilient and agile to meet fluctuating demand in the uncertain times ahead.

So how can IT suppliers help international companies like yours deal with these issues and still save you time and money on your IT hardware and accessories during this recession?

Switch from long term tenders (targeting large quantities over future) to real time tenders on available stock (available in present).
Ensure your supplier to have a comparison of prices, on millions of in-stock IT products from multiple sources in real time.
Ensure suppliers can provide delivery time estimates and progress in real time.
Consolidate suppliers into as few as possible tried, tested, reliable performers that are secure financially but also consider the local v global dilemma (read more).
Provide access to transparent IT spend, delivery and RMA data.
Centralise international IT purchasing - with local deliveries and cross border options when local stocks are unavailable in your desired time frame.
Ensure consistent SLA and RMA handling across all suppliers.
Require distributed delivery options so home workers can receive deliveries direct from suppliers for speed and minimal central handling.
Use a simple, transparent ordering, invoicing and payment system.
Gain continued access to eco-labeled products to maintain sustainable IT procurement goals.

Markit’s world class IT purchasing solution and marketplace functionality gives companies access to 3 million IT products across 34 countries and satisfies all the above criteria.

9500+ companies including 20%+ of Forbes 2000 trust Markit to supply their IT hardware and accessories – read our clients’ IT procurement success stories here.

For further information contact your local Markiteers or access the Markit IT catalogue now.

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How to Recession Proof Your IT Purchasing Requirements