Transformation Challenges of ICT Industry
The IT and electronics industry has been wrought with challenges. Supply chains are becoming shorter and the role of middlemen, dealers and traders is shrinking as principals become more aggressive in their pursuit of a larger chunk of the pie.
Traditional business model where buying at a certain price from distributor, keeping a mark-up and selling forward is no longer a sustainable trading model especially when factoring in economic challenges like the risk of default, tighter credit lines from banks and now credit insurance companies pulling back as they no longer find the market a lucrative place to play.
With all these challenges being faced by the industry, the Dubai Computer Group aims to help members by re-shaping the terms the industry operates on. Events such as the past networking event with experts from financial and insurance fields in attendance helped members reduce the risk profile of their businesses.
To this end, there was a round-table of G-15 followed by G-20 members conference which comprised of the 15 and 20 most prominent suppliers and dealers brought to the table to address the problems of shrinking credit and agree on industry standardized business terms. This helps to
mature the market and continue to keep the industry attractive for financial institutions to keep playing in.
The time is right to address these challenges head-on and convert them into opportunities. The time is right to reinvent ourselves and start focusing on value addition. The time is NOW for us to open ourselves and eventually our businesses to a new way of thinking.
With this in mind, the theme of the latest Business Symposium & Networking event is “Opportunities in Challenges”.
Join us on the 7th of May. More to follow on topics of discourse.