SEE suppliers and buyers gather online at ISTF 2021
The International Subcontracting Trade Fair (ISTF) 2021 for South East Europe, organized in cooperation between ProcurementFlow and James Meads Consulting, offers suppliers and buyers the opportunity to do business online through a virtual trade fair, despite the absence of in-person exhibitions and conferences.
ISTF, designed as a professional looking trade fair, will take place online on 17th February. The event will focus on three core products & services – Engineering & Manufacturing; Logistics & Warehousing services; Digital Solutions. The new innovative format enables 1:1 video calls, real time discussions and product videos and presentations, all from a virtual trade stand.
The first ISTF took place in December 2020 and involved companies from the Baltics, Poland and the Czech Republic, and now the organizers are bringing the format to South East Europe.
As a result of COVID-19, companies are increasingly turning to resilience and stability in their supply chains, while at the same time maintaining the necessary strong focus on cost. During challenging economic times when sales are flat or in decline, focusing on what and how an organisation spends its money with external suppliers is increasingly becoming a critical focus area.
Procurement is no longer just an administrative function. Sourcing with the right suppliers and managing complex contracts is highly strategic to a company’s profitability.
Long lead times, quality concerns, legal issues with IP, ongoing currency fluctuation, as well as working capital being tied up in higher levels of inventory can often mean that sourcing in Asia isn’t the right decision.
Total delivered cost is often higher when sourcing from India and China, despite lower ex-works costs per part than can be achieved in Europe. But when you look at the bigger picture, near-shoring often makes more sense.
As buyers’ attention is shifting to more holistic areas such as sustainability, shipping costs, supply chain risks and supplier innovation as a means to manage and control their spend, looking for a supply base closer to home is seen as the smartest choice. Suppliers in SEE have a huge advantage to satisfy these new criteria, due to geographical proximity to the major markets of Western Europe.
With no in-person shows likely until the end of this year, ISTF 2021 offers to both buyers and sellers an opportunity to showcase their products or seek out potential business partners. Registration is completely free for both exhibitors and visitors. Exhibitors who are seeking more features, exposure and promotion can benefit from the Bronze, Silver and Gold packages on offer.
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