Resilient thinking: How hire has dealt with a year of disruption
Edge Group
Intelligent Equipment Hire For Healthier Buildings and support services to the UK Damage Restoration Industry.
For more than a year, every corner of the economy has been living with the impact of COVID-19. Hire is no exception, and while the pandemic continues to create hurdles for our sector, it is important to reflect on how we have successfully been able to adjust and adapt.
Firstly, we had to almost re-write the procedural playbook at break-neck speed in terms of social distancing, sanitisation, and quality control (QC) to comply with legislation and go about our day-to-day operations safely. Despite the government announcing the ending of many restrictions, Edge will be aiming to maintain certain controls across our nationwide depots to help keep our employees and customers safe in the future.
The pandemic has also caused a short in the supply chain, with manufacturers facing delays in the importation of parts, materials, and machines. The need for forward planning has been crucial, and in our line of business, hire has been a helpful interim stop-gap for customers purchasing machines who face long delays. As an additional complicating factor, importing goods post-Brexit has become trickier and more time-consuming.
Following a year of economic instability, it has not been unexpected to see a steady rise in the cost of living, which generally leads to pressure on inflation and, consequently, interest rates. This may have an adverse effect on consumer confidence and some companies’ ability to invest. We will almost certainly see a situation where the combination of a lack of components and inflation may force manufacturers to increase their prices, making hire an even more attractive proposition for many.
Finally, with several trends veering towards a flexible return to the 9-5 office day, a blend of office and home working now seems preferable for many employees, some of whom are looking to repurpose areas in their homes to create permanent office space. With all this DIY on the horizon, it’s another sign that the hire industry has the resilience to ride the pandemic wave.