Four thousand, three hundred, thirty-three dollars.
That is the cost of a single minute of downtime in the electronics industry, according to Andy Kohm, CEO and founder of SCIP.
"But most downtime doesn't start at the factory floor," he adds. "When someone goes to make a purchase and they find out that the lead time has been extended, the part has become obsoleted, or the capacity has changed, that's when the scramble begins. People are rushing to figure out, are there alternative parts? Can we buy from a different distributor? Can someone ship earlier? When decisions are made under pressure, they're not really made in a good way."
That's why Kohm says most companies have a fragmentation problem. And supply chain intelligence can help.
SCIP was one of the two overall companies selected by Manifest to present on the Innovation Stage at Manifest: The Future of Supply Chain & Logistics, which took place Feb. 9-11 in Las Vegas. The Top Tech Startup award is designed to showcase those startups making a difference in the supply chain space.
Editor-in-Chief Marina Mayer with SCIP co-founders.
"From supply chain visibility and transparency to implementing automation, efficiency and optimization, many of today's supply chain startups share one common theme -- to better protect people, product and plant," says Marina Mayer, editor-in-chief of Food Logistics and Supply & Demand Chain Executive and co-founder of the Women in Supply Chain Forum.
CLICK HERE to watch the presentation.
