If we rewind the last two years, it’s obvious that the industry has seen its fair share of chaos. From fires, floods, global supply chain disruptions, and more, the impact of these events has followed us into 2022. Many dealt with shortages of semiconductors, long wait times, and more. Despite the many hardships and unforeseen circumstances, Velocity is managing well and experiencing success. How do we do this? We’re glad you asked! In this blog, we will highlight how to prepare for market conditions, the importance of delivering exceptional experiences, and what the future of the competitive landscape looks like. Keep reading to learn more about how you can incorporate our tips to achieve success in 2022, no matter the market conditions.
a screen with graphs showing a changing market
PREPARING FOR MARKET CONDITIONS
There is no industry out there that doesn’t face its fair share of adversity and challenges. Though the impact of the pandemic has certainly started to let up, it doesn’t mean there won’t be other hurdles ahead. Since we know to expect this, it only makes sense to prepare beforehand. One significant way to prepare for what may come is to look back at what you’ve learned.
Though the last 20 months brought undeniable hardship for many, it also taught us valuable lessons we wouldn’t have learned otherwise. As the December issue of Electronics Sourcing speaks to, the last two years have become “the great learning.” Don’t discount how your team navigated the unforeseen. Ask yourself- what worked the previous two years? What would we have done differently with the knowledge we have now? Use these insights to make this year your best yet.
the velocity team discusses issues in their warehouse
DELIVER EXCEPTIONAL EXPERIENCES
Our top tip for preparing for market conditions is to surround yourself with the right people. While this is a generally good rule for life, it’s crucial for our industry. Especially in a time that is feeling the stress from a shortage of semiconductors, focusing on core values is a must. According to Hal Juergens, Global Vice President of Sales Operations, “At Velocity, we think of our business as three overlapping components. This includes our people, our business partners, and our investors. By making an intentional effort to hire the right people for the right roles, we ensure collaboration. The collaboration is the key to remaining successful despite what the market throws our way.”
a worker with a hard hat looks at a tablet while standing in the warehouse
CHANGING COMPETITIVE LANDSCAPE
What’s next as we look to the future while bringing the lessons of the past with us? According to Juergens, “For Velocity, our next steps look like continuing to evaluate when and how to resume ‘normal’ business operations. We have learned a great deal over the past 20 months.
The details of our business continuity plan required a successful implementation of a large-scale transition to a mix of work-from-home and phased shifts of on-site personnel… all while maintaining the health and safety of Velocitarians globally. Adaptability to the mixed model has been crucial to Velocity’s success, and our team continues to outperform our expectations. As the pandemic reinforced, the importance of top-tier, global independent distributors is a critical component of your success. We do not expect the market to look how it did “pre-pandemic,” and we are prepared to embrace the new normal optimistically.
No matter what the market has in store this year, Velocity is ready. A shortage of semiconductors? Global issues? We feel confident. With our tips, you can be prepared too! If you need help managing your supply chain, Velocity Electronics is here to serve you. Our team delivers exceptional outcomes every time to ensure confidence no matter the changes in the market. Want to get started? Reach out today! We would love to hear from you.