Last year, at the ELF in Baveno, many of us were still confronted with supply issues. In the second half of 2022, except for some categories like micro-electronics, supply issues have gradually been resolved. With the supply issues solved, does that imply that the supply chain issues have been solved? The answer is NO! In the first quarter of 2023, many companies were facing reduced demand, as customers were depleting excess inventories. Instead of being service driven in the supply chain triangle, we are now more cost and cash (inventory) driven. Managing the supply chain for a ‘lack of demand’ is equally challenging as managing the supply chain for a ‘lack of capacity or raw materials’.
This obviously triggers the question, “Will the situation ever return to normal, to more stable demand-supply conditions?" and if not, “What should we do?”. In the upcoming conference, I will validate with the audience where we believe it is going. We will provide some proven recipes on what other sectors are doing to improve the agility and resilience in their supply chains. We will also touch upon the difficult choice companies have to make today: should we now save on costs and cash in our supply chains, to get through the economic uncertain period, or should we invest in agility and resilience to prepare for the next supply chain disruption? Questions I will ask you, the audience, in the upcoming workshop in Vienna. Based on the questions and the suggestions we will organize a working session in small teams, to understand what we as a sector can do to improve our supply chains.
This workshop, hosted by Bram de Smet, will definitely hand you the tools to optimize your business operations. Make sure to register today to secure your seat at the FINAT European Label Forum 2023.