Sourcing the right electronic components and keeping your supply chain moving is a difficult balance to get right.
You want your business to move forward, but if your procurement process is holding you back, then your forecast for success is already in jeopardy.
Whether you need circuit protection devices or a flash memory CPU part, updating your procurement process is essential for your business success.
Unconvinced? Read on for some interesting reasons why the traditional procurement process is outdated.
Going From Supplier to Supplier
The traditional procurement process means going from supplier to supplier, trying to source the parts you need at the price that’s best for your company.
Unfortunately, this entire process is hugely time consuming, taking away valuable time from your procurement teams and slowing down your production lines.
Even if you’re trying to source your electronic components online, switching from one website to another, searching dubious looking websites hardly fills you with confidence as an OEM.
With all this in mind, it’s hardly surprising that more businesses than ever are moving away from the traditional procurement process and heading online to marketplaces like Sourcengine.com for all their electronic parts.
Manually Comparing Prices
Even if you find the parts you need, your procurement teams then have to spend time comparing prices across dozens of sites and vendors for multiple parts.
And if your BOM is extensive, your entire business could grind to a halt whilst you find the right cost and find a match for your all-component part requirements.
By updating your procurement process and bringing it into the 21st century, you can set your search criteria on sites such as Sourcengine and search for the parts you need using their BOM tool.
Instantly eliminating the need to manually compare prices and simplifying the entire process.
Waiting for Parts to Come in
So you’ve found the right supplier, and you’ve sourced the parts you need for the right price. And you’ve been unable to find the part anywhere else both nationally and locally.
All you have to do now is wait for the part in question to come in – which could take weeks. The time you simply cannot afford!
Another reason why the traditional procurement process is outdated and no longer fit for purpose.
When you move your process online and use an international, online marketplace like Sourcengine, you can choose from over 3000 suppliers, all with international delivery capabilities, and set your criteria based on your delivery schedule.
Let Down by Unreliable Suppliers
The traditional procurement process can often feel like a bit of a gamble, especially if you’re desperate, need a low price, or need an electronic component delivered as soon as possible.
You’re effectively placing your trust and your company reputation in your supply chain, and it’s only as strong as its weakest link.
As an OEM, you can’t afford to be let down by suppliers who can’t make delivery schedules or who sell unsatisfactory, below-standard parts.
Moving your procurement process online to Sourcengine.com means you’re working with fully vetted vendors and purchasing parts that are not only traceable but guaranteed for 3 years.
Update your procurement process today and head online to Sourcengine.com to start your search.