Essence Group Announces Success in Meeting Supply Demand Throughout 2021, Despite Major Chip Shortages Caused by Ongoing COVID-19 Disruption
Herzliya, Israel (ots/PRNewswire)
Efficient Supply Chain Management, Including Advanced Forecasting and Component Sourcing, Resulted in Essence's 99.5% On-Time Delivery of Customer Orders
Essence Group, a leading technology group developing IoT-based security, safety and healthcare solutions and cloud services for homes, families and businesses, today announced it was able to meet the vast majority of customer orders for its connected security and senior care devices and systems throughout 2021.
Success was achieved due to Essence's strategic partnerships with component suppliers and chip manufacturers, its ability to predict and forecast requirements and place advanced orders according to these models, and the company's strong purchasing power. The robust management of Essence's supply chain mitigated the global disruption caused by the ongoing COVID-19 pandemic and ensured the continued supply of products to all of its customers.
"In March 2021, Essence released a statement describing our proactive resilience and detailed business planning, which ensured minimal interruption to supply during 2020," said Hagai Enoch, COO of Essence Group. "We are proud that this has continued throughout 2021, helping us to greatly exceed market expectations."
Throughout 2021, Essence was able to continually source the required items and maintain production levels, resulting in a 99.5% on-time delivery rate to its partners across the United States, Europe, Latin America and Asia-Pacific. The continuity of supply enabled Essence customers to continue to support end users successfully and without any disruption.
"The supply chain disruption forms part of the widescale resources challenges that affected global production, business investment and labor during 2021 and will likely continue well into 2022," said Dr. Haim Amir, CEO and Founder of Essence Group. "Our strategic planning and decisions made early in the pandemic relieved these problems and will help us to continue meeting customer demands. Our supply chain management with strategic suppliers will ensure we are able to maintain delivery of products to customers in order to generate revenues and maintain constant growth year over year."
About Essence Group
Essence Group is a global technology leader with a mission to develop and deploy innovative, cloud-based, end-to-end security and healthcare solutions, underpinned by supporting services, that provide peace of mind to users. For over a quarter of a century, Essence has challenged convention by making care and safety both accessible and affordable. With over 75 million connected devices deployed worldwide, Essence helps people to live safer and more independent lives.
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