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Anaya Vardya: 2024 and Beyond
January 9, 2024 | Anaya Vardya, American Standard CircuitsEstimated reading time: 1 minute
Predicting what will happen in our industry (or any industry) is getting more difficult. There are too many moving parts and factors to make solid predictions.
Technological advancements, global market trends, and supply chain challenges are some of those factors. Many companies are optimistic about the growing demand for electronic devices, especially with the proliferation of IoT devices and 5G technology. However, there are many moving parts, such as supply chain disruptions, rising material costs, and global economic uncertainties.
I believe that the business outlook for individual companies will depend on their ability to adapt to these challenges, diversify their customer base, and innovate in response to changing market dynamics. That is certainly the way our company is looking at it. How we can manage and adapt to changing economic conditions will factor into how we perform in 2024. I suggest anyone who wants to succeed must do the same.
Here are some of the factors we are watching.
Inventory Management and Supply Chain
Inventory management and supply chain issues have become significant concerns in recent years, and those impact working capital. Tied-up capital in excess inventory or delays in receiving critical components can hinder a company's ability to invest in capital equipment or technology upgrades. Effective supply chain management and inventory optimization are essential strategies to free up capital for other investments. The better we can manage the supply chain, the better we will do.
Capital Equipment
I feel there is no choice but to keep up with the latest equipment. To maintain your company’s lead in technology, you must have the best and most advanced equipment and tools on the market today. Buying capital equipment with cash or financing depends on a company's financial health, cash flow, and growth strategy. Using cash for equipment purchases can provide flexibility and reduce long-term interest costs. However, financing allows companies to conserve cash for other essential operations or investments. The choice between cash and financing should align with the company's financial objectives and risk tolerance.
To read this entire article, which appeared in the December 2023 issue of PCB007 Magazine, click here.
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