Philips(PHG) - 2023 Q4 - Earnings Call Transcript

With respect to the supply chain in 2023, we reshaped our setup and moved to customer-centric end-to-end teams aligned to our businesses. We significantly reduced materials and component risks resulting in a 20% increase in service levels, reduced lead times and improved sales conversion rates. For example, we redesigned more than 75% of the planned PCBs and derisked all high-risk components identified at the end of 2022. We will continue leveraging and regionalizing our end-to-end supply chain and further ...