The coronavirus pandemic has had a massive impact on supply chains and the price trend is becoming less and less certain. Our management team discussed how Findling is dealing with the opportunities and risks involved and how it is maintaining its delivery capacities.
Has the coronavirus pandemic had a negative impact on Findling Wälzlager’s delivery capacities?
In a recent study, 70% of logistics decision-makers confirmed that the coronavirus pandemic has had a negative impact on their company’s supply chain. This is critical because delivery problems amplify the problems of the affected companies even further: Low production capacity is compounded by the additional procurement expenses. It’s therefore no wonder that 95% of those surveyed wanted to focus more on supply chain resilience in the future.
Findling Wälzlager is the right partner to have at your side. We fully maintained our delivery capacities in 2020, even with the pandemic going on, which our current average rating for 2020 shows. In 2020 it was an amazing 97.87%! You are therefore in good hands with us when it comes to all of your roller bearing and plain bearing needs.
Are global trade and customs issues affecting Findling Wälzlager?
Two thirds of the respondents confirmed that the coronavirus pandemic was the most serious event for their company since 2011. But in addition to the pandemic, more everyday risks such as geopolitical and trade instability (especially punitive tariffs) contributed to economic uncertainty.
Those who attended our 100-year celebration in 2019 and learned about Findling Wälzlager’s history will be familiar with the challenges of global trade in our products since the 1950s. On multiple occasions we have been hit with anti-dumping duties, significant currency fluctuations and supply bottlenecks due to natural forces and environmental constraints. Every crisis is a challenge and tests our company culture and values, and we have always done a good job of handling every crisis with this attitude!
How do we guarantee high delivery performance?
In Findling Wälzlager’s 2019 balance sheet, it had an inventory valued at about 6.5 million euros. In addition, we process more than 50% of our turnover via framework contracts and price guarantees. In the course of this, we inform our suppliers of the capacities required for this well in advance.
All orders are reserved in our inventory. This allows us to prevent unintentional short selling by other consumers. In each of our order confirmations, we show the volumes reserved in our inventory separately, thereby achieving more planning security.
In addition to supplier ratings, we are constantly monitoring the deviations and thus the developments with respect to the delivery time that we want, have confirmed and complied with on the supplier side but also on the customer side. This allows us to detect trends particularly early.
We promote cooperative partnership with a culture of open communication. This enables us to get insider knowledge faster and to be treated preferentially.