Tuesday, February 7, 2012
Maintaining Momentum in the Face of Uncertainty
Despite the looming threat of yet another economic meltdown as the world dreads the ripple effects of the growing economic troubles of Europe, the outlook for the IT sector stays positive as consumer spending on IT products remains strong, with a double-digit growth to its belt. Studies point to the steady demand for smartphones and software purchases across many regions as being the key, with Brazil, Russia, India, and China leading the worldpack. Being highly-populated regions must have helped pull the numbers up.
This press release touches on the various aspects of supply chain as was discussed in this week's articles. At times like these, SPEED and ACCURACY are key factors to maintain momentum. Manufacturers must react to the trend by responding FAST and responding RIGHT in terms of making their products available. In the face of uncertainty such as a financial crisis, manufacturing companies must ask themselves an important question: What opportunity lies in front of me in a situation like this? How should I respond to uncertainty?
Uncertainty in the market could mean a sink-or-swim decision for a company. Knowing how strong your market is despite the environmental factors present will shed light on your next course of action. The principle of inventory management is simple. Just match demand with the ideal supply. The How part of it is the tricky one. Keeping inventory at a level that matches your demand could get complicated, but driving your inventory costs at a minimum has proven to be very effective in driving down overall costs for companies. Despite the volatility of the market situation, manufacturers must always remember that businesses can manage to stay afloat and even flourish, enabled with the right counter-measures in supply-chain management.
Tech Spending Remains Strong, Despite Economic Risks and Volatility, According to IDC’s Worldwide Black Book