It’s that time again, the most romantic day of the year (according to companies selling us things!). Whether you love or loathe Valentine’s Day have you ever thought that you owe your romantic celebration to the hard work of Procurement & Supply Chain? No..well then let me fill you in on how we are the superheroes that make Valentines happen!
People are estimated to have spent $23.9 billion on Valentine’s Day in 2022—up from $21.8 billion in 2021 and the second-highest year on record. In the UK alone last year the estimated total spent on Valentine’s cards and presents is £155 million. This is a big business and love alone doesn’t get the cards and presents delivered – this is us in supply chain with a large helping hand from logistics.
- We source the raw materials – and help to make these responsible & ethical. A study done by the WWF found mixed tropical hardwood in the card makeup from many UK high street retailers. This wood is taken from South East Asia, primarily Indonesia, Malaysia and Vietnam. Indonesia and Malaysia have the highest rates of deforestation in the world, as a procurement professional we can help our supply chain be responsible and sustainable
- We forecast the likely demand to ensure that there is enough supply to meet the demand: Roses are in high demand around Valentine’s Day, causing prices to surge.
Roses typically make it from soil to store within 60 hours or less before being purchased by customers for Valentine’s Day celebrations. After February 14th passes, demand drops drastically causing prices to return back down again. Without correct forecasting by the procurement & supply chain teams you wouldn’t be able to receive your roses, wine or chocolates!
I always tell my students that Procurement department is the superhero of an organisation, we are there to save the day with efficiencies if sales are not coming in. However now I will go one step further and say that Procurement & Supply chain are the secret superheroes of your relationships on holidays such as Valentines!
I will leave with a little present, as despite all the commerciality I am feeling the love today. Our Diamond Package doors open again for Level 4 & Level 5 at the end of March to sit the May exams. If you sign up for the full level we will give you a 10% discount until the 1st of March, a saving of over £200! All you have to do is get in contact quoting Valentines and we will honour the discount.
Have a lovely day no matter if you are coupled or single