What component crisis? iLOQ continues to deliver without delays
The well-publicized global semiconductor chip shortage, due in part to the COVID-19 pandemic, is an ongoing crisis. Many companies have faced significant disruptions to deliveries and lengthened lead times. Under such challenging circumstances, I am proud to say that iLOQ has performed exceptionally well.
Very early on, we began to follow the spread of the virus in Asia. We were quick to react to the challenges it presented, in terms of our supply chain and logistics, to minimize the long-term effects it otherwise might have had on our ability to fulfill orders throughout 2020 and 2021. We have been able to source all necessary components and, when needed, do design changes. With no limitations in supply or bottlenecks in logistics or production, our delivery capability has been exceptional. We have been able to ship any of our products within 24 hours of an order being received.
Mitigating future risks
Now, as the world claws its way out of the pandemic, we are seeing spikes in demand, but the shortages in components are set to continue, at the very least, throughout 2022. We are therefore continuing to be proactive to mitigate any potential future risks the ongoing crisis could bring.
In the spring of 2021, to cope with iLOQ’s rapid growth and demand for our products, we opened a new logistics center close to our headquarters in Oulu, Finland. With more than double the amount of space than we had before, this dedicated, centralized logistics center enables us to provide our customers with fast and accurate deliveries.
Resilient and agile supply chain
We have also strengthened our organization’s in-house sourcing team, built buffers to ensure a resilient and agile supply chain and practice double sourcing to reduce dependence on any one supplier. We don’t expect the crisis to pass any time soon, but we will continue to adapt our operations and business practices to maintain our uninterrupted delivery of products and services. Above all else, we are confident that our exceptional delivery capability will continue throughout 2022 and beyond.