As you know, 2023 was a year of complex challenges — from global supply chain disruptions and unpredictable demand fluctuations to looming recession fears and persistent semiconductor production issues.
In the face of these headwinds, MCC demonstrated our exceptional ability to adapt to meet market and customer needs. Our team’s tireless dedication enabled us to overcome these industry-wide obstacles, achieving significant milestones while providing unwavering customer support. And they achieved all of those things while building connections, strengthening team bonds, and having fun.
The electronics supply chain is emerging from a period of rapid growth to a more measured phase of development, and its focus has shifted towards the strategic rebalancing of inventories. Many of the COVID-19 disruptions show signs of easing supply constraints and moderating demand in key areas. Adapting to these changes, MCC strategically realigned our operations and inventory with evolving market requirements while maintaining our commitment to developing and delivering the superior quality products our customers have come to expect.
MCC has always been at the forefront of quality, high-performance components. In 2023, we took our commitment to new heights by launching over 200 New Product Introductions (NPIs). Designed with the latest technology, these products meet the challenging demands of many industries, including automotive — a core focus for our team and the global marketplace.
A testament to our drive to stay connected and influential in the power electronics sector, our team attended over 20 industry events around the globe. We pride ourselves on maintaining a strong global presence in the industry. One highlight of our many trade shows and events was our participation at PCIM Europe, where we embraced the themes of e-mobility and energy storage while showcasing how our products are pivotal in these evolving markets.
We deeply value the relationships with our distribution partners — Future Electronics, Digikey, Arrow, and Mouser — which are essential to our success. In 2023, we enjoyed working closely with these partners to not only distribute our products but also to provide education for engineers. Our experts conducted several training sessions to help engineers overcome their challenges with our wealth of international knowledge, combined with relevant local insights.
This year, we also invested in high-value digital content on our YouTube channel to emerge as a leader in industry-related media. The MCC YouTube channel is the go-to resource for engaging and educational content — from informative videos and product insights to expert interviews and videos highlighting our stellar company culture.
For MCC, 2023 was a year of corrections and repositioning in our ever-evolving market. To ensure that we are attuned to market needs, we listened closely to customer feedback, worked intimately with our customers and partners, and realigned our goals to reflect what customers need now and be prepared for future shifts.
MCC’s investment in research and development has been robust this year, focusing primarily on innovative NPIs and automotive-grade components to address growing and shifting demands.
To further our mission to lead in innovation while providing the highest quality and reliability, we’re dedicating 5-10% of our annual revenue to boosting R&D capabilities, including smart factory enhancements. We’re also nearing completion of a new, advanced facility in Vietnam that is slated to begin production next year.
Recent market research reinforces our reputation for efficiency, dependability, and best-in-class lead times across our diverse product categories compared to industry averages. This recognition highlights our consistent ability to deliver the components our customers need, when they need them most. Our streamlined processes, strategic inventory management, and IDM model have empowered us to maintain superior lead times, allowing our customers to attain a true competitive advantage by getting their products to market faster.
Our commitment to excellence was celebrated by our distributor partners, who honored us with three prestigious industry awards in recognition of our responsiveness, exceptional customer service, and the breadth and quality of our portfolio. These awards underscore our team’s unwavering dedication to exceeding expectations to ensure our clients receive the best possible experience and products in the semiconductor industry.
This year’s accomplishments were only possible through the tireless efforts of our employees, partners, distributors, OEMs, and customers. As we close the final chapter of 2023, we look forward to 2024 — a year full of possibilities, innovation, and partnerships that drive progress.
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