Expert Insight GETTING THROUGH THIS TOGETHER:
Lolly’s Covid-19 Experience In the wake of Covid-19 our industry continues to struggle and we all remain uncertain about what lies ahead. We wanted to take a moment to reflect on what we’ve come through, both the positives and negatives, and to share with you our Covid-19 story so far...
Group images were taken pre COVID-19
Thankfully, we have been fortunate at Lolly HQ. Our resourcefulness, attention to detail, and ethos have helped pull us through and we continue to support the hospitality industry.
So here’s a rundown, an A-J tale of Lolly’s Covid-19, with more to come...
AGILITY has been essential. Since the beginning of Covid-19, like most of our customers, we have had to keep on our toes, ready to adapt and react to whatever sudden development is announced.
Even before the pandemic hit the UK we were experiencing delays and logistical issues with our supply chain and stock arriving from China. Whilst these delay issues were dealt
with by our team, who were able to prevent them from having an impact on project delivery, other issues have arisen since. Big installations were, and still are, being put back by weeks. Large clients, uncertain over whether exhibitions, events or developments are going ahead or not are holding back on ordering. Increasing numbers of last minute orders are putting more pressure on the supply chain. This continues even now, where we are seeing more last minute orders, as no one is able to plan too far in advance.
BUYING product has become more difficult due to the delays on orders. At Lolly we buy equipment in and don’t invoice before install in order to support our customers. Last minute orders also increase cost, particularly due to faster shipping requirements.
All this has meant we have to ensure diligent cashflow management. It’s a hard time for everyone so we are also having to respond to late payments from customers as they manage their own cashflow.
COMMUNICATION is always important. However, with remote working, increasingly challenging business environments, and the ever- changing situation, communicating well and efficiently has been critical – across every level of the business.
At the beginning remote working was a real change for our team. The dynamics of our development team were really affected as they are used to all being in a room together, throwing about ideas for the next technology updates. Yet we’ve all adapted well, maintaining strong commmunications and the team have come together from afar to work on new projects and to set up specialist systems for customers.
32 October 2020
www.venue-insight.com
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