Supply Chain Crisis: 1 Must-Buy Canadian Tech Stock

North America has wrestled with a supply chain crisis in the final leg of 2021 that has threatened to seriously disrupt retail operations going into the holiday season. The emergence of the Omicron COVID-19 variant now threatens to stir further disruptions. Investors should look to one TSX technology stock that is perfectly positioned to provide solutions to this present-day problem.

Kinaxis (TSX:KXS) is an Ottawa-based company that debuted on the TSX back in 2014. The company provides cloud-based subscription software for supply chain operations in Canada and around the world. Shares of this tech stock have climbed 6.5% in 2021 as of early afternoon trading on November 30. However, the stock is down 5.2% week over week.

The company released its third-quarter 2021 earnings on November 4. It achieved a record number of customer wins in the quarter. In previous years, Kinaxis has won contracts with top automobile companies like Ford (NYSE:F), Toyota Motors (NYSE:TM), and Volvo (NYSE:UL)and top companies like Unilever. The company posted SaaS revenue growth of 14% to $44.7 million in the third quarter of 2021.

Total revenue jumped 17% year-over-year to $64.4 million.

Supply chain solutions software has seen demand surge since the start of the pandemic. Kinaxis has grown into a global leader in this space. The stock last had an RSI of 40 as it is trending towards technically oversold territory. Iā€™m looking to snatch up this tech stock ahead of the holiday shopping season.