Valves have been very important part of our life since its creation and now it is used widely and there are many task which can not be done without them. So, it’s management and supply is very necessary and must be maintained
The production, supply and use of valves are critical to life as we know it today. Without them we could not distribute water and sanitation, mine for ore and minerals, drill for oil and gas or make the electricity to power and heat our businesses and homes.
In one of the great “unseen” industries the global industrial valves market accounted for $70 Billion in 2015, and is expected to reach almost $100 Billion by 2021, growing at a CAGR of around 5.3% between 2016 and 2021?
That’s a huge market, but despite this, the valve industry remains very traditional, and has struggled to utilize resources the same way as many others have in this ever more environmentally conscious world.
The introduction of technology, developing faster, more responsive and immediate supply chains, has been slow to penetrate, forcing buyers to accept delivery times of up to a year on occasions, creating delays in large infrastructure projects globally, and still relying on time-consuming manual processes to do what should be done in minutes, not days, weeks or months.
Huge inventories of valves lie in warehouses around the world, much of which has been totally abandoned and forgotten, yet these products have no expiry date and could be easily utilized by many users desperate to cut delivery times for their projects. In the current economic climate, some way has to be found to improve the poor stock utilisation and the attendant costs within the industry from manufacturers and distributors through to end users.
Current estimates put the global inventory at $15 Billion. How much of that is actually waste or products simply looking to find a buyer? How many stockists actually know the value of their unused, unrealised inventory?