The report highlights the immediate reactions to COVID-19 and the challenges faced by businesses in 2020. It also mentions that businesses are focusing on risk management, liquidity management, and cost reduction. The report suggests that businesses had good programs in place, but supply availability became the main concern as the year progressed. Enterprises had to identify their critical suppliers and streamline their new supplier qualification process to ensure business continuity. The report also mentions that procurement and supply chain professionals are seeking fresh thinking and insights from the Thought Leadership Council of GEP.
