Regaining Altitude: Managing Industry Supply Chain Challenges
June 10, 2021 IABSC Meeting Recap
Over the past few weeks, the US aviation sector has begun to climb. Traffic is picking up in many markets; not yet a full recovery, but airports and airlines are seeing a return of passengers. A combination of leisure and business travelers are returning to airports, airplanes, and putting baggage into the systems that we build and maintain.
Meanwhile, airport projects continue, both in execution and planning. Since March 2020, there has been a dramatic change in the marketplace for goods and services. These changes are affecting our industry in ways that none of has ever experienced nor had been able to forecast.
Our June 10 meeting discussed the critical times that our industry faces due to supply chain challenges.
Below were the Topics Covered:
- Faithful & Gould – pricing indices, what the trends are telling regarding the economics of the marketplace, reviewed construction market segment economic outlook
- Unified Supply – the ‘Bullwhip Effect’ being seen in our industry right now
- Forbo Siegling – how individual chemical components are driving price and availability of product
- Sourcery WC – how market demand, pricing and availability have changed, and potential solutions for contractors
- Hartmann Electric – impact of today’s cost of materials and scarcity on long term projects. Are indices the proper tool to implement going forward?
- Rockwell Automation – how conditions globally have led to scarcity, and how global shipping is impacting the products we utilize, and the suggestions provided to help counter the critical issues
A tremendous amount of data was presented for your consumption. Hopefully, you are contemplating what it means for your business.