OK, so you didn’t need the fiscal geniuses to figure out the dark cloud of recession has cast its shadow over U.S. businesses. But there still are moves you can make now to keep you a step ahead.

There are three tactics in particular that’ll help strengthen your position:

• Suppliers. Are you getting full value for your Procurement dollar? Might you be in a position to bargain any breaks or discounts? Here’s an off-beat idea — consider teaming up with one or two of your competitors to combine purchases from a single supplier and get a discount. You might even save yourself a little shipping money, if you work out the logistics with your new partners. One more caution: Are there any suppliers you rely upon exclusively? What would happen if one of those suppliers suddenly couldn’t meet your needs? Now’s the time to formulate a back-up plan, before you’re forced to do it on the fly.
• Technology. Sure, you’ve been waiting for those WMS upgrades for six months. But are they going to provide an immediate return on your investment? If possible, postpone any non-essential IT upgrades. If feasible, push the improvements six months down the road. The short-term savings could prove invaluable. If there are projects that’ll save money, push those to the front burner.
• Talent. There are two sides to this coin. First, make sure you have up-to-date performance assessments (or at least files) on every staffer. If you get the unfortunate word that reductions must be made, you’ll have the objective information you need to make fair cuts. On the other hand, this is a great opportunity to elevate “rising stars” in your operation. Do you see someone who has potential? Give that staffer the chance to shine.

Tags: discounts, procurement, recession, shipping, WMS