We have seen continuous change and evolution of our workplaces, but I am pleased to say that a common factor has been the enthusiasm of the companies in the industry that we work in to move with the times and embrace new opportunities.
Here are some considerations for the business supplies industry in the coming year:
- Diversification – Business supplies companies continue to diversify into adjacent categories including cleaning, workwear, catering, furniture, and technology. Some of these areas can require specialist knowledge but confidence and the desire to sell new product areas has grown post pandemic.
- Data & e-Commerce – good product data is essential to e-commerce trading and analytics. The pressure on companies to manage a wider range of information will continue to grow.
- Procurement – It can be challenging for smaller companies and start-ups to trade with the public sector. The 2023 Procurement ACT aims to reform the public sector procurement regime and is expected to go live in October 2024. This will be a digital platform that is designed to offer a better competitive landscape, more control and simplified bidding process. Procurement Act 2023
- Sustainability – Legislation continues to be a driver for major changes but the need for a change of culture and holistic KPI’s are being embraced by forward thinking businesses. Extended Product Responsibility legislation will continue to drive improvements in packaging of goods and the reduction of single use plastic. EPR Legislation
- Place of Work – Hybrid working is here to stay but the debate continues about the impact of home working on effectiveness, mental health and company culture. Some companies are making improvements to the facilities in the workplace to attract people back into the office. New flexible working regulations are expected in April 2024 Flexible Working Measures
- People & Culture – CSR policies and a change of mood following the pandemic are continuing to drive improved HR policies and employee benefits. Recruitment remains challenging and companies are reporting issues with wage inflation, lack of available skilled workers and AI generated CV’s.
- Artificial Intelligence – AI will continue to bring more scale for efficiency and creativity. The workforce will be required to understand and adopt new technology and embrace the benefits, we expect to see new roles emerging and will see people looking for courses to help them retrain. As well as manufacturing efficiencies we expect a drive in more personalised and effective marketing.
BOSS Members can view our keynote speaker Daniel Hulmes presentation on Rethinking AI's impact on Business & Humanity below.
The general mood of the industry appears to be better than last year with a slowdown in both energy price and interest rate rises but with new technology, legislation changes, economic upheaval and a general election expected this year BOSS will continue to listen to the needs and concerns of the members and meet with Government on topics that are specific to our industry.
Our first BOSS webinar of the year will be delivered by Inenco.
Mastering Energy Markets: Efficient Procurement Strategies For The Business Supplies Industry. To register, click below.
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