Issue link: https://iconnect007.uberflip.com/i/1513227
38 PCB007 MAGAZINE I DECEMBER 2023 Is inventory management and/or supply chain tying up capital you would otherwise use for capital investment? ACE has been very proactive with our suppli- ers in establishing inventories at their facili- ties in the past few years. We are lucky to have fantastic suppliers we have worked with for years, so they have been very accommodat- ing. ACE has always managed our supply base as partners, and we don't jump ship to save a few bucks. at partnership and loyalty paid off when shortages were a thing, so we are not tying up cash on supply chain management. What's your perspective on buying capital equipment with cash vs. financing? ACE pays cash for equipment. Even when we finance (which does have its advantages), we only finance what we can pay for out of pocket. A Feature Q&A We asked James Hofer, general manager of Accurate Circuit Engineering, to discuss the outlook for his company—and the overall fab- rication segment—as we move into 2024. He's bullish on fabrication, even though he does see a slowdown coming. How would you describe your economic out- look for the industry and your company's business outlook for 2024? What are you optimistic about, and worried about? ACE has a big footprint in aerospace and defense; next year, I see that market segment increasing regardless of what the economy does. I feel the economy will slow down but that's not an entirely bad thing. Prices on raw materials and consumables have skyrocketed in the past couple of years and surcharges are abundant in the industry. I am hopeful that a slowdown will spur the removal of those sur- charges. ACE's second largest customer base is with start-up companies with emerging tech- nologies and, while I foresee a slowdown in this sector, I do not expect it to be significant. James Hofer: Mil/Aero Leading the Way in 2024 James Hofer