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Bo Lybæk, CEO at GPV addressed the current materials shortage situation at EOT - Electronics of Tomorrow. He named the crisis “the worst situation the last 20 years”.
”No doubt, the situation is extreme. In many ways this is “the perfect storm”. We see historically high demands, lead times, and prices, and everyone is struggling to cope with the situation. This has led to lots of frustration which we must handle and respond to. We saw similar situations in 2011-12 and 2018 and here we learned to #1: Avoid short-sighted actions, #2: Be ready when the bubble bursts, and #3: Remember that what you do during the crisis, will be remembered after the crisis - so integrity is key,” says Bo Lybæk.
Since the coronavirus pandemic started in spring 2020, GPV has kept a close, frequent, and transparent dialogue with customers to understand their needs and keep them updated on the production capacity, market updates, and the supply chain situation.
Furthermore, GPV has expanded capacity at several sites, set up a “secure sales” taskforce, intensified strategic procurement, and together with customers redesigning products with alternative, available components.