"Is another recession coming?" 

"When will it happen?"

 "Who will be affected?"

These are hot questions that professionals across all industries want answers to. The possibility of a recession makes everyone from CEOs to shift workers understandably nervous. At the beginning of the month, Bloomberg Economics predicted that there was a 26% chance of a recession occurring in the next year. Perhaps it's not time to panic quite yet.

Nevertheless, that's enough probability to start your survival plan ahead of time. As the problem-solvers and disaster-avoiders in a company, Procurement professionals can't wait for a sure sign to prepare for a potential economic crash. It's wise for supply chains to prepare for the worst and start mitigating risk now rather than later. 

Senior Analyst at Corcentric, Sam Cagle, will provide some guidance for procurement teams in a presentation this upcoming January. "Building a Recession-Proof Business with Help from Procurement" will demonstrate why Procurement is so valuable during periods like a recession. He will also provide some best practices for not just surviving, but thriving throughout such periods. 

Cagle aims to answers these key questions: 
  • Where the U.S. is financially and why might a recession surface in 2020?
  • What different methods can businesses use to respond to a recession? 
  • How can World-Class Procurement help companies survive?  
Recessions can be a scary subject to approach, but it's up to Procurement teams to courageously lead their companies through adversity and this situation is no different. Start your recession-proofing journey with some insight from one of our experts. 

The presentation will be hosted by ISM NJ on January 9th at 11 AM. To register, sign up by Wednesday, January 8th here.  Both members and non-members of ISM are encouraged to tune in.

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