Finance Monthly - October 2021

as important in the environment we’ve found ourselves in today. One particularly interesting insight the pandemic has offered is the fragility of the supply chain and the benefit of US-based manufacturing (for US-based companies). Most companies, especially in (or above) the middle market, have experienced supply and vendor related issues; be it through natural disasters, rising prices, or any number of other complications that may happen in the ordinary course of business. Typically, management can inexpensively manoeuvre and replace the key vendor/supplier so as not to severely impact operations. The supply chain disruption we have experienced as a result of the pandemic has been economy-wide and has opened eyes as to the importance of manufacturing “close to home”. It has also become very evident that in addition to simply keeping a wide base of potential suppliers it is critical to have strong lines of communication open at all times with suppliers to help forecast potential disruptions and course correct at an earlier juncture. Another very practical reminder from the COVID pandemic is the human consequences that happen as a result of management initiatives. Oftentimes management teams are so focusedon revenue targets, growth, profitability metrics, etc. that they forget about their impact (as an organisation) on their employees’ and customers’ lives. The sweeping changes that were enacted by companies across the United States were bold, costly, and commendable. These changes were done with no known government aid and no idea of when restrictions would ease. The restrictions were put in place for the common human goal of ending the pandemic. This human reminder was a rare time that borrowers, creditors, competitors, employees, employers, etc. put everything aside and were completely aligned on a non- financial goal. Joseph B Wabick Managing Partner Kreshmore Group O. 708 675 1500 E. info@kreshmore.com W. www.Kreshmore.com Finance Monthly. Bank i ng & F i nanc i a l Se r v i ce s 37