For the past three years, the supply chain has been a rollercoaster for the architectural, engineering, and construction (AEC) industries — facing challenges, such as manufacturing disruptions, labor shortages, logistical issues, demand fluctuations, supply chain complexity, and regulatory hurdles.
To best understand the extent to which supply chain shortages have affected enterprise IT strategies, it’s helpful to evaluate the supply chain delays through two paradigms: one of abundance and another of scarcity.
In the early 1990s, the longest lead-to-purchase time was 45 weeks for raised floor tiles. Today, the longest lead-to-purchase times are for generators, transformers, switchgear, and raw materials.
What does today's industry look like tomorrow? Well, no one really knows. But the experts have some ideas about what to expect in terms of cybersecurity, sustainability, power, cryptocurrency, the economy, the supply chain, and more.
Developing an understanding of all vendor services in use is important, but it is even more important to consider how the vendor management program can reach its full potential.