The Future of Telecom Technology Will Impact Inventory Levels
To remain successful, companies need to prepare for the future of global telecom technology. Establishing global standards for technology, software and privacy are crucial steps to achieving continued success in the industry. However, as these products and services are adapted to accommodate a global customer, the systems and equipment inventory will quickly become obsolete.
More global consumers demand that telecommunications products are made to be convenient so they can manage their busy lives. To move forward to meet this demand, countries, industries, companies and investors need to come together and find useful solutions to best serve their customers.
Maintaining adequate interoperability between telecom systems and equipment is extremely important and should be a priority. Whatever standards are developed will need to equal the fast pace of innovation in telecom technology. Additionally, there needs to be a method that will help manufacturers handle any obsolete or overstocked inventory.
Communication protocols should be developed to enable equipment (devices), computers, and sophisticated software. As equipment becomes more sophisticated, more software has to be standardized. Extensive standardization in software and hardware must also be a point of focus.
There must be a great deal of collaboration amongst governments, carriers and manufacturers to develop these global standards in telecom technology. In order to establish a single standard, there must be a focus on compatibility or interoperability between computers and terminals of different makes and models. It also requires a thorough understanding of the latest innovations and the future activities of all participants, including customers.
Privacy regulations and the future of telecommunications security must also be addressed. Hackers are just as advanced as you think they are. Although most computers out there are protected from unauthorized access, it’s possible that some telecommunication components and systems are still vulnerable to theft. Various encryption techniques are on the market now and they range from such practical methods as the Data Encryption Standard, to more sophisticated public key systems.
Because of rapid advances in telecom technology, there are more telecommunications products that will become obsolete. Recent data states that 23% of telecommunication parts become obsolete every year – which will create ton of excess inventory for manufacturers and will become a very costly burden. Obsolete products end up creating storage issues in your warehouse and ultimately hinders your company’s productivity. Anytime you can prevent excess inventory from accumulating, it can save your company precious time and money.
In order to eliminate excess inventory, keep up with customer demand, and not sacrifice productivity, hiring a third-party vendor is essential. No business wants to have their employees wasting precious time on managing where the excess inventory ends up. It’s a great thing that AECI specializes in helping manufacturers solve all kinds of excess inventory issues. Whether it’s an abundance of obsolete product parts, machinery, equipment or tools, AECI can provide a smart solution and help you manage or sell these excess items. Contact us today for more information on our services – we’re here to help!