Yes, indeed. The COVID-19 pandemic has caused widespread disruptions in the global supply chain, which has led to equipment shortages and significant price increases for many tech products.
The pandemic has highlighted the fragility of many supply chains and the importance of having resilient and diversified supply chains for critical products.
In addition to the pandemic, other factors, such as trade tensions, natural disasters, and changing geopolitical dynamics, are also contributing to the supply chain uncertainties and making it difficult for businesses to plan for the future.
To mitigate these risks, many companies are rethinking their supply chain strategies and exploring ways to diversify their suppliers and reduce their dependence on any one region or supplier. Some companies are also investing in technology to improve supply chain visibility, increase transparency, and reduce the risks associated with supply chain disruptions.
However, despite these efforts, the information technology supply chain crisis is likely to continue to impact businesses for the next several quarters, and it will be important for organizations to stay informed and be proactive in addressing these challenges.
Let’s take a look at the three biggest challenges most companies are facing with the IT Supply Chain Crisis:
Prices Continue to Increase
Prices are going up because the pandemic has disrupted supply chains, causing shortages of various goods, including IT hardware. This is why it’s important to plan ahead and place orders well in advance. You may also need to consider alternative suppliers or different hardware models that meet your requirements. Additionally, it’s a good idea to have contingency plans in place in case of further supply chain disruptions.
Product Lead Teams are Getting Longer
Yes, the extended product lead times due to the pandemic have created a number of challenges for organizations looking to purchase IT hardware. The advice to think ahead, place orders well in advance, and build buffer into project timelines is definitely sound.
In addition to the points mentioned, it’s important to regularly communicate with suppliers and monitor lead times to ensure that you have the most up-to-date information. You may also want to consider alternative suppliers or different hardware models to ensure that you have the resources you need when you need them.
It’s also worth considering other strategies to mitigate the impact of extended lead times, such as renting or leasing hardware, or investing in redundant systems to ensure business continuity in case of a supply chain disruption.
Overall, organizations need to be proactive, flexible, and creative in their approach to IT hardware procurement in the current environment to ensure they have the resources they need to meet their technology goals.
Sales Channels are Expanding
It’s true that the pandemic has led to an increase in the use of alternative sales channels for IT hardware procurement. As traditional resellers come under pressure, organizations may find that they have a greater need to explore alternative options in order to secure the hardware they need.
Independent resellers or even an IT Asset Disposition Provider (ITAD) like OceanTech can be a valuable resource for companies looking for new or refurbished IT hardware. With a trusted network of partners and expertise in strategic sourcing, these types of organizations can offer a range of solutions to help organizations meet their hardware needs. Keep in mind that it is important to thoroughly research and vet any potential alternative channel partners before entering into a relationship with them. This includes checking their reputation, experience, and customer reviews.
Ultimately, the key to successfully procuring IT hardware in the current environment is to be proactive, flexible, and creative in your approach. By staying informed about market trends, exploring alternative solutions, and partnering with trusted experts, you can ensure that your organization has the resources it needs to meet its technology goals, even in the face of supply chain disruptions and other challenges.