Current industry trends—what’s happening?
There is a global supply war going on right now, and it’s a fight for allocation. Anyone asking “Why?” or “How come?” is not in the game. The world’s largest OEMs are applying tremendous pressure daily on all supply channels, and users of components need to focus to stay ahead of the competition.
How’s business?
At NewPower Worldwide, we are prepared to capitalize on this disruption in the market. Our proprietary trading platform, EMPOWER, provides access to billions of parts worldwide and allows our global team to deliver at unprecedented levels of speed and precision. Our experience and knowledge base also prepared us for this full-on shortage—but many distributors have not been as fortunate.
What are the key challenges, and how are distributors addressing them?
Manufacturers are also in the midst of a battle. They are in a position where raw material is scarce and are faced with a finite amount of product they can produce this year. Their dilemma is how to maximize profit margins based on the limited supply. To maximize their return, manufacturers around the globe have begun to utilize alternative outlets for supply.
Distributors worldwide need to work to help manufacturers deal with wild swings in demand by providing as much market insight as possible. By providing proven, data-driven analysis, NewPower can partner with manufacturers to keep ahead of demand and ease customers out of the supply chain bottlenecks they are currently facing.
What’s the outlook for the next few months?
There is no immediate end to the supply shortage in sight. As dwindling production continues, the global supply war rages on. There is no time to educate the uneducated in a shortage market like we’re experiencing today—it’s survival of the fittest. It is imperative to partner with a distributor like NewPower, which is built to thrive in shortage markets and meet demand, while creating long-term solutions for supply chain challenges.
