Afternoon Coffee: U.S. has surplus of ventilators; Consumers shy away from gig economy; Veriforce, ComplyWorks acquisition

photonewman/Adobe Stock

After a $3 billion effort to manufacture ventilators to treat COVID-19 patients, the government has a stockpile of more than 94,000 unused ventilators, according to the Washington Post.

General Motors, Ford, GE and other major companies received emergency funding to speed up production of ventilators to meet the demands of the U.S. government. During the beginning of the COVID-19 disruption, health officials warned about a shortage of ventilators.

Now, however, the vast majority of ventilators are going unused, according to the article. The Department of Health and Human Services plans to keep the extra ventilators on hand.

“While there is not currently a shortfall of ventilators in the [strategic national stockpile] inventory, the new ventilators procured during the COVID-19 response will ensure the United States is prepared to respond to any hot spots in the coming months as well as future public health emergencies,” an HHS spokeswoman told the Washington Post.

“Many states initially requested far more ventilators than they actually needed,” leading to the surplus, the Washington Post reported.

Coronavirus pandemic alters how consumers use gig economy

Many consumers shifted away from using gig companies during the COVID-19 pandemic, according to the Associated Press.

A survey issued by the University of Chicago and the Associated Press-NORC indicated consumer attitudes changed about using ride-share or delivery services in recent months.

The survey also found that households with higher incomes were more likely to use gig companies during the coronavirus pandemic.

About 63% of consumers hadn’t used a ride-share service since March (when the COVID-19 pandemic led to more stay-at-home orders). The survey also assessed concern for gig workers, with some consumers expressing a lack of confidence in safe working conditions for delivery workers, the AP reported.

“People are worried. We know that,” Dmitri Koustas, an assistant professor at the University of Chicago, told the Associated Press. “They’re worried about themselves and their families. And they’re concerned about the virus, and they’re also worried about workers."

Supply chain risk specialist Veriforce announces acquisition of ComplyWorks

Supply chain risk specialist Veriforce announced in a press release Tuesday the acquisition of ComplyWorks, a Canadian compliance management solution provider.

The combined company will serve 800 companies in 120 countries with over 50,000 contractors to focus on risk mitigation practices. With the acquisition, Veriforce hopes to create the industry’s most comprehensive supply chain risk and compliance management solution.

Houston-based Veriforce has established itself as a leader in what it describes as comprehensive, integrated supply chain risk solutions with its software and domain experience. The company’s SaaS platform, data integrity and training programs drive safety and compliance for supply chains and workers. ComplyWorks positions itself as a global leader for compliance management throughout its history.

“Veriforce's collective strength in the energy sector, with ComplyWorks, could help create scale advantages during a cyclical oil and gas downturn in which supply risk is increasing, not decreasing,” said Jason Busch, Spend Matters founder and due diligence practice director. “More broadly, this is the under-the-radar, billion-dollar market most people do not know about in the procurement tech/solutions industry. Veriforce and its peers have done a clever job pioneering recurring, often supplier-focused revenue streams based on network-centric business models that provide more than SaaS alone.”

Never miss out on Spend Matters news — sign up for our newsletter!

Share on Procurious

Discuss this:

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.