Speedrack Products massively benefits from evaporation of just-in-time delivery model
While the COVID-19 pandemic hit many industries hard, that hit resulted in a significant change to the way nearly all manufacturers do business: more on-hand inventory. Instead of having shipments from suppliers arrive just in time, manufacturers are storing far more product in storage areas including Speedrack's systems to increase resiliency to supply chain failures. While this move is higher cost for everyone in the chain and results in slower operations in many cases, Speedrack's revenues may remain significantly higher for many years.
COVID|New Activity|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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