Avnet celebrates 20th anniversary of its ‘speedboat’ business model and looks forward to new opportunities to grow further in IoT and AI
Two decades of operation with cluster of fast and agile business units leveraging Avnet’s world-class logistics and supply chain infrastructure to deliver best-in-class customer service
(PresseBox) Avnet EMEA, the regional business organization of Avnet, Inc. (Nasdaq: AVT), is celebrating the 20th anniversary of its ‘speedboat’ model, which is the term used by Avnet to describe how its individual distribution companies do business. Essentially, the Avnet business units operate from day-to-day upon an independent basis, while benefitting from Avnet’s robust financial and logistical corporate structure.
The speedboat model, so-called because it comprises a series of smaller entities that can deliver a faster and more agile approach to the market than a much larger but slower moving vehicle such as a super tanker. Overall, the model has enabled Avnet to drive demand creation and vertical segment support to a new level, embrace market changes much faster and more effectively than many other large organisations.
The new millennium ended a decade that had seen massive global expansion for Avnet in Europe – with the acquisition of about 20 distribution companies – from the acquisition of Access Electronics in 1991 to the EBV Group in 2000 – growing the parent company to almost US$3 billion in revenues. This consolidation of small- and medium-sized distributors into one global organisation was an important strategic move to create partnerships with global suppliers and service large customers.
