Execs Remain Optimistic That Innovation is the Way Out

Article By : Brian Santo

The global economy is still hobbled by supply chain problems, but there is still a great deal of optimism that the electronics industry is creating the tools that will help the world dig itself out of its economic problems.

The global economy is still hobbled by supply chain problems, but there is still a great deal of optimism that the electronics industry is creating the tools that will help the world dig itself out of its economic problems.

At the conclusion of the 2021 AspenCore Global High-tech Executive Forum and the Global Distribution and Supply Chain Leaders Summit (held on consecutive days and known as the Double Summits), Yorbe Zhang, head of AspenCore APAC, said, “It’s better to get ready for the inevitable. Shortages, rising prices, and replacement have become the keywords in the distribution industry over the past two years. However, the trend of supply chain digitalization will not be impeded by pandemic or periodic fluctuation. In fact, as pandemic causes a sharp increase of multiple emergencies, the application and optimization of supply chain management digitalization systems are being driven further.”

Winners of the World Electronics Achievement Awards.

COVID-19 and politics have clearly affected the global economy, but at the same time, the ongoing trend toward digitalization has been a key element in the response to COVID-19. Digitalization can help open up the supply chain through artificial intelligence (AI), cloud computing, big data, and other technical means, from product design, visual logistics, smart procurement, smart warehousing, smart parts management, customer digital portraits, to digital marketing.

Economies around the world are in full swing pursuing new industrial strategies. The European Union has launched its “EU Industrial Strategy,” Germany has its own “National Industrial Strategy 2030,” while the United States has implemented the “2020 Reindustrialization Strategy.” China is also seeking to deepen its manufacturing upgrade. Everyone is trying to leverage ongoing innovations in 5G, AI, digital twins, machine learning, machine vision, remote real-time control, industrial Internet, big data, cloud computing, smart sensing, processors, operating systems, and more — all while trying to transform their industrial capabilities noted AspenCore senior industry analyst Illumi Huang.

During the Global High-Tech Executive Forum, a roundtable hosted by AspenCore China News principal analyst Lefeng Shao and a panel of industry leaders discussed “The practice and thinking of supply chain digital transformation.” The panelists discussed how semiconductor manufacturers, distributors, and EMS/OEM/ODM factories can step out of blind spots to build their digital ecological chains, and implement comprehensive digital transformations of their enterprises in a well-planned and step-by-step manner.

Zhang said, “The Global Electronics Industry is going through profound change under the influence of COVID-19 pandemic, which speeds up the implementation of the New Industry Strategy with intelligent manufacturing as its main body. The intelligent combination of semiconductor technology and the manufacturing industry has become the top priority.”

The Global Distribution and Supply Chain Leaders Summit concludes with the Global Electronic Component Distributor Awards. The Global High-Tech Executive Forum-Global CEO Summit concludes with the World Electronics Achievement Awards Ceremony.

Double Summit Awards

The World Electronics Achievement Awards (WEAA) honor companies and individuals who have made outstanding contributions to the innovation and the development of electronics industry worldwide. WEAA are praised by many and represent one’s leadership and excellent performance within the electronics industry. Winners were elected by the committee comprised of AspenCore global senior industry analysts and online users from Asia, the US and Europe.

WEAA Company Awards& Editors Choice

Winners are listed in random order. (Click on the image for a larger view.)

WEAA Innovative Product of the Year Awards

Winners are listed in random order. (Click on the image for a larger view)

The Global Electronic Component Distributor Awards program has been honoring outstanding distributors in recognition of their outstanding performance and positive contributions to the electronics industry.

 Global Electronic Component Distributor Awards

Winners are listed in random order. (Click on the image for a larger view.)

Editors’ Choice Awards

Winners are listed in random order. (Click on the image for a larger view.)

The fourth annual AspenCore Double Summits were held at the Sheraton Shenzhen Futian Hotel. Zhang concluded, “On behalf of AspenCore , I would like to offer warmest thanks to all global speakers and special guests.”

Additional information

Find more about the 2021 WEAA

Find more about the 2021 Global CEO Summit

View 2021 Global CEO Summit live video here

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