In a webinar organized by BW HOTELIER on 'Procurement - the Big Game Changer', Ouseph Francis, Vice President, Procurement, Oberoi Hotels and Resorts talks about the way forward and what is needed today.

When people are unsure of the future, it is natural tendency to save money and to be careful of one’s spending! “However, when uncertainty is unprecedented, people find themselves at a loss, and in a position where tough choices have to be made,” says Ouseph Francis Vice President, Procurement, Oberoi Hotels and Resorts. He is referring to the adverse impact of the Covid-19 pandemic on the hospitality sector. 

At these times, says Francis, resources are scarce and cash is of prime importance. “Supply of resources is an important aspect of the business at these times because we are operating with limited reserve,” he says while presenting his views on the topic for discussion – ‘Procurement, the Big Game Changer’. 

How will this pandemic impact demand? “Certain categories will be more affected than others. The impact of the pandemic will be drastic and therefore we don’t expect demand to go back to the pre-Covid-19 era immediately,” says Francis. 

On the question of how this virus will change the behavior and perception of people? “In the future, people will have to be more cautious of what they are buying and people will restrain themselves in order to spend only the minimum amount that is required,” he says. 

What does the future holds for the hospitality sector? “It all depends on how much cash you have and that will determine the work at hand,” he adds. However, one this is certain that the future remains uncertain, he says. But in the medium term, new trends will emerge and people will have to work in coordination to achieve the desired results, adds Francis.