Stan Renals, CEO, Cobar Europe & Cobar Solder Products

Reflecting on the close of 2023, we contemplate the challenges we encountered and the resilient solutions we embraced as we stand on the threshold of 2024. In summary, supply chain issues have shown signs of improvement, the economic outlook is optimistic, and the demand for our services has reached unprecedented levels.

The supply chain shortages that persisted over the past couple of years now appear to be mostly behind us. Through close collaboration with our vendors and customers, we successfully navigated these challenging times. However, our customers, acknowledging the unpredictable landscape, continue to place 'blanket' orders spanning the next 12 to 24 months to secure the availability of the PCBAs we supply.

Interest rates have seemingly stabilized as the economy gains momentum, sparking hope for potentially lower rates in the near future. Although the topic of inflation remains part of our conversations, it appears less likely as the global community adapts to current conditions.

Throughout 2023, the challenge of hiring skilled labor persisted. Situated in Austin, TX, an established technology hub, we faced the ongoing competition for experienced operators among the myriad of 'high tech' companies in the area. Fortunately, Kodiak boasts a remarkably stable workforce with minimal turnover, mitigating the impact compared to many other companies.

Looking ahead, the Kodiak management team has meticulously outlined our objectives for 2024 and established a robust plan to achieve these goals. Anticipating unforeseen challenges, we are well-prepared to navigate and overcome any hurdles that may arise in the coming year.

As we celebrate our 20th year in business, we take a moment to reflect on the accomplishments of 2023 and eagerly welcome the opportunities and achievements that 2024 holds for Kodiak.