It’s called the Order Bank. And it’s designed to flatten another curve – one unrelated to the health system – but tied to COVID nonetheless.
One of the expectations around what the business world will look like when the pandemic is over is that everyone will scramble to get back into operation. Sales orders will stack up as suppliers not only try to get their own businesses on their feet but working with customers to get those going too.
A Saskatchewan group of CEOs and executives collaborating through TEC Canada’s local operations are trying to bring some order to the chaos expected after the green light of business as usual through something they call the Order Bank. Basically, they are talking with their customers and suppliers now – before the deluge – taking soft purchase orders and making tentative purchases.
This Bank will create a priority list – and sequence – for the orders to be filled when the time comes. As a business owner, if you have 100 suppliers you want to ensure you are #2 on their list not #98 when we return to normal. The Order Bank is a tool for getting that done.