Supply Chain Crisis to Start to ‘Abate’ by Late 2022: Flex CEO

The “thinking” at Flex is “in line with” speculation from its suppliers and customers that supply chain bottlenecks will start to “abate” by late 2022 into 2023, said CEO Revathi Advaithi on an earnings call for fiscal Q3 ended Dec. 31. Flex hasn’t seen the supply-chain crisis “abate in any significant way,” she said. “We feel like those supply challenges are still there and consistent.” Any Flex factory disruption from COVID-19's omicron variant “wasn't significant at all,” said Advaithi. “We have 85% of our 165,000 employees fully vaxxed and around 93% of them with at least one dose.” The high rate of vaccinations “has really helped us take this a long way, and because of that, we have really been able to hold our performance through these kind of COVID ups and downs that you have seen recently.”