The COVID-19 pandemic has put the world in a precarious situation, with businesses facing uncertainties and people being forced to stay home under mandatory lockdowns. The government healthcare systems are under immense pressure. The demand for healthcare-related products has surged and supplies seem to be always short. Whether it is face masks, sanitizers, PPEs or respiratory equipment, governments are struggling to keep pace with their requirements. Obviously, there are immense tender opportunities for healthcare manufacturing businesses in this scenario. Although healthcare businesses need to take a humanitarian approach right now, this is also the time to secure the opportunities as they are here. Here are some measures that they can take to find the best ones.
Be aware of your current capabilities
Considering the medical emergency that nations are facing, any business that wants to get the opportunity to supply healthcare basics needs to be aware of some facts. They would have to churn out a good supply within a short time span, that too at minimal pricing. If you have the capabilities to match the seriousness of the situation, only then you should take the plunge. Bear in mind facts like your production capabilities, suppliers at hand and operational costs to decide. After all, you wouldn’t want to take up a responsibility that you cannot fulfill. Keeping up with public healthcare needs right now is more of a responsibility to humanity rather than a business opportunity.
Follow only the right tenders
The COVID-19 crisis has created a stressful situation as there are work and travel restrictions. Taking local projects makes sense because the supply chain is struggling due to these restrictions. You can expect to face bottlenecks while procuring supplies and delivering finished products to distant locations, so being thoughtful about the location is essential. For example, it would be good to stick to tenders in South Africa if you are operating in this part of the world. You can use a tender notifications service to ensure that you come across only the opportunities that are relevant to your business and geographical location. The last thing that you would want to be in trouble with right now is logistics and being selective will surely help.
As tendering is competitive in nature, it is easy to think that bidding with the least price will make you win. However, you need to price judiciously in the current circumstances. Going too low with pricing can put pressure on your business, which would be hard to bear considering the economic downturn. At the same time, you should also be empathic and go the extra mile to help, as much as you can. The idea is to find the best price, something that will give you the opportunity to supply quality products and earn a reasonable profit without exploiting the situation.
While there would be plenty of opportunities in the healthcare landscape right now, you must consider the importance of service to humanity while exploring them. At the same time, make sure that your business is able to make an optimal level of profit with opportunities that are a perfect fit.