While many businesses continue dealing with the effects of the pandemic-induced global supply chain crisis, Biamp managed to weather the storm largely unaffected thanks to savvy planning.
In the August/September issue of AV Magazine, Biamp President, CEO and Co-Chairman, Rashid Skaf, was interviewed for the publication’s “Setting the Bar” feature.
The article’s author, Phil Ward, had this to say: “Skaf and his management team wasted no time betting on whether the market would come back to normal – only on the timing of when it would come back to normal. Leadership with this kind of experience has been through other crises in the past and has learned how to navigate them.”
Of course, there are numerous examples of companies that chose to tighten their purse strings while riding out the pandemic, only to lack critical inventory when their customers were ready to start buying again.
“Most of the companies who struggled – and who continue to struggle through the continuation of it, which is the supply chain crisis – are wishy-washy about their decisions,” said Skaf. “They don’t make it clear what their intentions and strategies are, and perhaps that’s because there is no decision. You should make a decision and stick to it…until you make a different decision. Not making a decision is making the decision to falter.”
It was early decisiveness that helped Biamp emerge from the pandemic poised to hit the ground running once the world reopened for business. “We ended up buying tens of millions of dollars’ worth of components and other resources prior to the market shutting off, in anticipation that there would be a comeback,” said Skaf.
The article provides additional insight into Mr. Skaf’s business acumen, and sheds interesting light on how Biamp is prioritizing its efforts with a steadfast focus on continued AV industry leadership.
Read the story in its entirety, here.