The Right Research & Right Parts: How Supply Chain Software Enhances Electronic Component Sourcing

Do you know where your electronic parts are coming from? More to the point, are you making the best possible purchase for your company in terms of value, reliability, and price?

If not, you’re not getting optimal electronic components.

And while that sounds like a minor issue, the lack of a viable supply chain management (SCM) process to browse, select, and source electronic parts has a significant negative impact on ROI.

Let’s say your enterprise typically purchases a capacitor for a bulk rate of $1.00 each, and you use an average of 75 capacitors per deliverable project. However, there’s a more affordable (and just as reliable) capacitor available for $0.75 each. Even if that project is more “cookie cutter” than customized, your costs can quickly spiral out of control.

At 100 projects per year, your regular capacitor costs are $7,500. Yet with intuitive SCM software to assist with your electronic components sourcing, your costs are $5,625.

And that’s just one element of a complex electrical system. If you’re able to save with other electronic parts (diodes, resistors, current sensors, RF accessories, power inductors, EMI parts, etc.), your project costs automatically optimize – and that’s great news for your bottom line!

In the Beginning: The Importance of Electronic Parts Sourcing with Supply Chain Software

It’s critical to know exactly where your electronic components are sourced from. Knowing this important information allows more informed decisions regarding:

• Shipping Rates
• Delivery Times
• Bulk Product Availability
• Discounts with Other Company Electronic Parts
• And Much More

The right e-procurement environment is critical in making the best electronic parts purchase the first time, and every time. Sourcengine™ offers advanced technology, real-time data, intelligent add-ons, and other electronic components marketplace tools to ensure you know exactly where your parts are sourced from, along with important pricing and delivery data, too.

How does Sourcengine ensure total control with your electronic parts sourcing, and what specific steps can you take to refine your electronic components research?

Sourcegrid™.

Wouldn’t it be great to have all of your crucial purchasing and parts information all in one place, in an easy-to-view, actionable format? That’s the thinking behind Sourcegrid, our next-generation visual purchasing tool. With Sourcegrid, you can see every offer for all electronic components in one place. Plus, our marketplace automatically provides lead time-based pricing and bulk-rate specials, so you’re always getting the best offer, regardless of supplier location. If we can find a better deal in previously unpenetrated markets, that’s exactly where we’ll help you get the best possible deal.

Align your research with project BOMs.

For large projects, electronic parts research benefits from a clear vision (and alignment) of your ultimate product. This is where BOM integration with research gives you an advantage for strategic and tactical research. With useful filters for your electronic parts purchase (lowest price, delivery time, or best offer), our software-commerce marketplace presents up to 10,000 line items. The quantity and quality of data helps you make the right decision, based on your particular project needs.

Versatile purchasing tools for any team member.

Sourcengine creates equal-opportunity advantages for everyone involved with electronic parts sourcing. From buyers to researchers to engineers and designers, we realize the importance of accurate, cost-effective electronic components sourcing. Regardless of your role, we’ll show you a better way to save money with your parts purchases.

Expand your cross-reference database.

If your cross-reference list isn’t comprehensive or doesn’t include newly listed electronic components, you’re missing out on an important part of parts research. If your cross-reference list isn’t up to date, make sure you’re using the latest reference materials; discard outdated catalogs and also ensure your supply chain software has the latest version installed.

Align electronic parts research with product requirements.

In other words, keep the end goal in sight. What’s the end goal for your particular projects and products? Are you trying to meet an aggressive deadline? Limit your electronic components research to only those parts with favorable delivery times. Is your customer looking for an ultra-durable device? Focus your research and sourcing to well-reviewed, high quality, dependable accessories. Sometimes, a project requires overlapping initiatives, and that’s where supply chain software is indispensable..

Connect with the Premier Supply Chain Software for Electronic Components Sourcing

Only a few years ago, finding the right electronic parts at the right price – not to mention the best shipping arrangement and overall value – was a difficult proposition. The ability to synchronize the latest purchasing data with need-it-now project schedules never really clicked. Thanks to Sourcengine’s robust, powerful e-commerce marketplace and associated features, we give everyone, from purchasing agents to project managers, the confidence and total capability to make informed, intuitive electronic parts purchases – all in one place. And thanks to our user-friendly tools (full ERP real-time data, streamlined BOM resources, total cost optimization, our real-time excess estimator, and more), you’re able to reduce operating costs and deliver projects on time.

Whether you’re buying or selling electronic components and associated accessories, our fully functional digital marketplace and feature-rich software simplify and streamline the supply chain process. From initial product development to final prototype and distributed products, our e-procurement tools keep you ahead of the SCM curve.

Check out a demo of our e-commerce tools. Once you’re ready to enhance your supply chain capability, reduce project costs and increase revenue, sign up with Sourcengine. For any questions about electronic components sourcing, or if you’d like to learn more about our complete line of e-commerce marketplace resources, contact us now.