Making Covid-19 an opportunity to add value while managing the threat
Covid-19 pandemic presents a unique and unprecedented set of challenges to both HSBC and its supply chain. HSBC Procurement’s response have demonstrated an ability to protect HSBC and its employees, while playing an important value-add role in supporting its supply chain. Examples include:
• Applying learnings from China Covid-19 situation to ensure no business interruption to its India based outsourced Procurement operations (supporting the UK) –using these operations establish weekly early payment runs to suppliers (>£41m to date).
• Sourcing and managing PPE supplies for staff to keep branches open, alongside prioritising effort to procure new services to support vulnerable customers.