Avdonin: when supplying products, you need to fully meet consumer demands

When supplying products, you need to fully meet the needs of end consumers. Alexey Avdonin, an analyst at the Belarusian Institute of Strategic Studies, said this in the BELTA project “The Country is Speaking”.

“If you monitor the publications of our Western competitors, corporations, banks, after the pandemic they introduced such a term as smart import. It implies that you cannot simply supply products, you need to know the specifics, connect scientific institutes in order to fully comply with the request of the final consumer," said Alexey Avdonin.

Belarus has very strong scientific potential. “There are enterprises, organizations, research teams that can offer a whole range of services - this includes technology development, financial, insurance, medical, analytical and other services. All this is in great demand,” he noted.

“But we must understand that in the services market there is a higher level of competition than in production, because any service market has such a characteristic factor as the desire to minimize transaction costs. In order to produce and deliver products, huge costs are needed for logistics and warehousing , provision of spare parts for production, etc. In the service sector there are no such costs. However, everyone forgets that the key costs here are knowledge, time for education. In the services market we meet very strong competitors not only from Western countries, but also from the Asia-Pacific region. Companies and banks from this region are extremely active, it is very difficult to compete with them,” said the analyst. “We are also faced with artificial intelligence technology that is not yet fully understood. It will soon “knock out” workers, who were previously employed in the service sector. All this leads to cost minimization."

“If we don’t rebuild today, then tomorrow we may lose markets for our services. When we talk about the supply of financial, insurance, medical, defense, and analytical services, we must understand that we will have to compete with the largest corporations. Therefore, we need to rebuild,” - stated Alexey Avdonin.