Sourcing the right component parts within the right time frame, for the right price can feel like you’re swimming against the tide. With pressures from all sides, it’s hardly surprising that procurement teams feel frustrated at the prospect of sourcing electronic components within a set budget and on time.
It’s this pressurised approach that can lead to all kinds of issues with purchasing. From missing out on deals and real-time supplier data to paying too much for transportation, or even ordering poorer quality components due to time constraints and a lack of supplier choice. Thankfully, it doesn’t have to be this way.
Today, there are multiple ways you can ensure your procurement team has everything they need to save time, money and frustration when sourcing your electronic components. Let’s explore these options here.
If your procurement team is still making endless phone calls or spending valuable time and resources by searching for component parts manually, then it’s time to update your entire purchasing strategy. By moving your process online to a global marketplace such as Sourcengine – you’ll find parts for electronics available here – they’ll be able to streamline the entire process. Giving them more time to source the right parts, manage their budget better and ensure that all promises and requirements are met.
Upload Your BOM
When moving your search online, you’ll have the opportunity to utilise a BOM tool. This simple yet highly effective tool helps procurement teams save time and money when sourcing electronic components. Simply upload your BOM to the tool with a couple of clicks and your teams can begin the quoting process. No more searching for components by hand or by going to and from multiple suppliers, just a simple interface that gives your procurement teams full control over every aspect of the purchasing procedure.
Compare Prices and Set Criteria
By comparing prices digitally, you’ll be in stronger control of your purchasing budget. When you upload your BOM you’ll be able to set your specific criteria and search for your required components based on your preferences, such as price, delivery schedules, packaging and supplier. You’ll also have the opportunity to streamline the comparison process, with real-time data highlighting the latest prices and offers on your components. This approach removes the need to compare prices by hand, saving your business time, money and valuable resources.
Be Smart When Scheduling Deliveries
It’s not unheard of for procurement teams to go over budget in order to meet the demands of delivery and customer expectation. However, when you source your electronic components online, you’ll be able to search through 550 million component parts, prioritising the ones that match your transportation requirements without compromising on budget or timeframes.
Communicate With Your Business
Increasing the levels of communication within your business will make sourcing your electronic components easier and keep them within budget. By sharing your orders and BOM with other departments, you’ll be able to avoid duplicate ordering, surplus stock and excessive spending.
Sourcing your electronics online doesn’t have to be a frustrating process, consider the points above to improve your procedures.
Founder Dinis Guarda
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