Business Technology

How Having the Right Supply Chain Software Will Revolutionize Your Electronic Component Sourcing

Revolutionize Your Electronic Component Sourcing

The increased demand for electronic components by companies makes it a crucial aspect that must be given emphasis when thinking about operations. A few years ago, it was the norm to rely on catalog distributors for the supply of these all-important parts, but times have tremendously changed. While the role of these distributors can never be undermined as they bridged the gap between manufacturers and the market, the truth is they can no longer meet the complex needs of today’s market. This has necessitated for a better and more robust system when it comes to managing your supply chain as a buyer.

Revolutionize Your Electronic Component Sourcing

Luckily, there have been great improvements in the electronic components markets over the past years, thanks to modern technology. The limitation of relying on catalog distributors has, as such, been broken as e-commerce becomes the norm for the industry. However, it is not just the suitability of being able to make purchases online that has been the greatest win for all players but the incorporation of technology to all aspects of the supply chain. The focus is, therefore not in simply finding a B2B supplier with an online presence, but a platform that provides you with everything required to source for electrical parts easily. This is because business to business supply chain is a complicated process that involves more than placing an order online but lots of other components.

The answer to all companies looking to enhance how they source for electronic parts has been to find the most dynamic supply chain software that will see them take charge of the entire process. Fortunately, this has been the focus of value-driven e-commerce marketplaces that specialize in electronic part sourcing as they seek to eliminate all hassles. Having the right supply chain software comes with lots of advantages, making it the primary focus for all buyers in the market who want to upgrade their procurement process. Among the core advantages of ditching the traditional system for an automated supply chain system is;

1. Real-time data

Knowledge is power, and when it comes to purchasing electronic components, it dictates the decision to be made. Instead of having to rely on secondary information from distributors, supply chain software allows you to have the real-time data analytics about the parts to be purchased at the click of a button. Information about where the electronic components will be sourced from, bulk product availability, shipping rates, the unit price of each component, delivery times, and discounts are all availed to you. This makes it easier to settle on the right vendor and have reliable data about the electronic components for greater control over your sourcing.

2. Automated sourcing process

It has never been easier to source for electronic components than by having supply chain software that, at an instant, provides all suitable alternatives of the part number searched. Instead of being limited to traditional cross-referencing that is not only time-consuming but bound to errors, for the software in-built cross-referencing tools make the process automated. The best part is that the results match the pin-to-pin parameters and are displayed alongside all other vital details required. As such, not only is everything simplified, but there is 100% accuracy and ease in making comparisons between different vendors. The icing on the cake is the fact that all distributors of electronic parts listed in the Supply chain software have been background checked and authorized for global transactions.

3. Traceable sources that make e-procurement a walk in the park

In the age of e-commerce, the traceability of your supply chain management is crucial and can only be acquired by having the right software solution. Instead of relying on promises, there is the active evaluation of the vendor reliability, vendor quality, product price, delivery times, and performance characteristics of the electronic parts. The verification of all these vital aspects plus more takes away the blurred line that makes supply chain complicated and will exceed your expectations every time. Increasingly, the industry is getting more competitive, and by having the assurance of traceability a lot of the common problems in procurement will be eliminated.

Ultimately, the procurement of electronic components must never place your project in jeopardy when all it takes is relying on approved supply chain software to provide turnkey solutions for the entire e-commerce process.

About the author

Deepak

After working as digital marketing consultant for 4 years Deepak decided to leave and start his own Business. To know more about Deepak, find him on Facebook, Google+, LinkedIn now.

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