SOS changes game plan to survive COVID-19
AS the global economy buckled under the pressure and strain caused by the COVID-19 pandemic, businesses had to re-evaluate and adjust their business models and strategies to survive in what is deemed as the new normal. One such company is Stationery and Office Supplies Jamaica Ltd (SOS).
Having ended the 2019 financial year with its highest-ever revenue haul and profits, SOS celebrated the feat. However, in light of the pandemic, the company has had to undergo changes to its operations as issues with its suppliers in China started to impact the volume of its imported goods in February 2020.
In the months that followed, COVID-19 rapidly changed the business landscape in Jamaica — specifically with the enforcement of work-fromhome measures for non-essential workers. This had a direct impact on SOS’S operations, as it meant there were fewer orders from their clients, as their employees no longer occupied the shared spaces that housed their operations. In addition, this would also reduce the timeline for plans of growth within the business process outsourcing sector that would also affect sales.
According to Allan Mcdaniel, deputy managing director, the company has taken the necessary precautions to maximise the full capacity of the resources they have on hand in order to secure business continuity during this time.
“The current unprecedented downturn in the economy is being felt by all, which is why we have put measures in place to support our current clients and cut prices across the board to do our part to support businesses. While the reopening of the economy fast approaches, and the reopening of schools is on the horizon, we are certain that we will be able to realign with some of the objectives we set at the beginning of the year for the business,” Mcdaniel said.
He added that while expansion and revenue plans, including plans to increase Caribbean business for the company, have been put on hold, the company remains committed to playing its part in the economic recovery of Jamaica in the near future.
“It has always been a trend for SOS’S financial operations to mirror that of our economy, and this season has proved no different. When the economy does well, so do we. With COVID-19 limiting the economy, this has been a challenge that I am confident we will overcome. SOS remains confident in the resilience of our people and our economy and looks forward to the timely resumption of business operations in Jamaica.”