4 Ways to Reduce Electronic Component Costs with an Electronic Component Supply Chain Partner
The right electronics supply chain partner can make all the difference when trying to reduce electronics component procurement costs.
All over the world, OEM and ODM companies of all sizes are striving to reduce the cost of purchasing electronic components as they look for cost-saving opportunities amid rising land, utility and labor prices.
Finding the right electronic components at the right time at a price that doesn’t hurt the bottom line is no easy feat for any procurement professional. Time-consuming procurement and protracted negotiations can be very challenging. Qualified electronic component distributors can add value by helping your company reduce electronic component procurement costs by guiding you through complex global supply chain challenges.
1. Access to global component market information and inventory can reduce component costs.
Established global distributors can take advantage of a strong global sourcing network. Sourcing specialists are located all over the world or (at least) in a few countries, they have first-hand access to global market information, and they can react quickly.
Local procurement teams also use contacts to find the latest information on excess inventory in the region. So when your regular channels fail to meet pricing expectations, your supply chain partner can give you another option to find what you need.
2. Benchmark approach to component pricing
Experience with price trends in the component market is not achieved overnight. It can take years for procurement professionals to truly understand the electronic components market.
Introduce experienced supply chain partners to the company. With decades of industry knowledge, partners sit on a trove of market data. Rely on your partner to help you take advantage of price changes and strategically optimize the timing of purchases.
3. Bulk order brings better price
Larger OEM and EMS companies often have an advantage over their smaller and mid-sized counterparts when it comes to securing parts at the price point they need.
So how can you compete on more equal terms? Consider the benefits of working with an electronic parts distributor to work with customers in a variety of industries.
Resellers can use BOM information to aggregate requirements. With bulk orders, distributors can better negotiate a great price—and pass the savings on to you.
4. Quality always comes first
Purchasing components to reduce costs is no exception. Faced with multiple quotes, you may find it difficult to verify the quality of individual parts. Likewise, working with a trusted distributor eliminates the risk of counterfeit or scrap parts entering your supply chain. The right partner not only screens suppliers, but also tests parts to ensure the best quality.
Does your organization need to improve access to a vast network of electronic parts? Are you looking to reduce component costs while maintaining your commitment to quality? We can help. Contact us today.
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