Dealing with supplier shortages

Dealing with supplier shortages

Big brands being affected by supplier shortages has been all over the news. From Nando’s running out of chicken, McDonald’s unable to make milkshakes and even the NHS facing a shortage of collection tubes for blood tests. A combination of the pandemic and Brexit have been blamed but how can businesses navigate these obstacles.

It has been a tough time with the pandemic and now supplier issues, one of the key things businesses can do is to stay on top of their finances so they can make quick decisions. By having a cloud-based automated financial software package in place like Xero, our clients are able to keep track of their finances. The ability to be able to quickly download reports and forms has meant our clients could access finance and lending options quickly.

Using Xero has also meant the Clear Vision Financial Management team were able to continue to work closely with their clients throughout the pandemic. Xero has provided the ability to access all financial information remotely and seamlessly.

For those businesses facing a supplier issue being able to access their financial details quickly and remotely has been essential. This will enable them to make decisions quickly based on their sales forecast and come up with innovative ideas to ensure they deal with these temporary problems. Having a contingency plan in place is essential so you can plan ahead and put other measures in place. Communication is also key everyone within your business should be aware of the situation and what the plan is, the key focus is ensuring your customers are aware of what is happening and how you are solving the issue.

The Clear Vision Financial Management team were able to start working from home immediately during the pandemic due to the technology infrastructure that was already in place. The whole team were able to work seamlessly with their clients, ensuring all of their finances were taken care of, leaving them free to run their business during a very challenging time.

Sean Daniel, Managing Director said “We have always looked at developing the Clear Vision Financial Management business, ensuring we have the latest technology and software in place. The whole team are trained and experienced in using these products, so we were able to put into place a work from home plan immediately when lockdown was announced”.

Get in touch with the friendly Clear Vision Financial Management team to find out how we can help you with your accounting needs. You can call us on 01794 330025 or email us.