Are you missing the last piece of the puzzle? Take advantage of value-added services

Are you missing the last piece of the puzzle? Take advantage of value-added services

Too many vendors? Too much uncertainty? Value-added services can fix that.

The logistics of electronic components procurement presents a dynamic puzzle. With a rapidly changing global market, many electronic components suppliers have ventured into value-added services, seeking to capitalize on the need for enhanced logistics.

The result? There are a lot of offerings out there to sort through. You may already engage the services of more than one vendor. We think that consolidating your value-added services make sense if you are looking for the following three things.

1. Stability

The electronic components market is prone to major swings. In the last 18 months we have seen rapid market changes. Parts that were heavily allocated are now coming back into standard availability. The influx of supply will create excess materials in the coming months. This is a significant shift from the shortage market and brings its own logistical challenges.

To add to the changes, mergers and acquisitions within the world of component manufacturers are constantly creating new EOL situations. You need to position your organization to respond to all of these scenarios in a cost-effective manner. Value-added solutions can smooth the transition points in market swings, ensuring that you get the best deals on everything from EOL buys, off-loading excess components, and more. Sourcing your value-added services from one provider offering a range of services adds even more stability.

2. Customization

Value-added services are unique in that every customer has a different idea of how they want to do things. Simply outsourcing a function of your business doesn’t guarantee the most efficient result. The precise service you need might not exist — yet. The question is, can your value-added service provider create it for you?

Tweaking value-added programs into a beneficial format takes a formative understanding of the electronic components sourcing business, not to mention skill and creativity. Look for a vendor that offers proven, effective solutions. Consolidating your value-added services is not the time to experiment with an upstart. As with selecting your suppliers, it’s important to do your due diligence up front, rather than risking your reputation or even your business on an unstable vendor relationship. An established presence on the electronic component supply market will have the knowledge you need to create effective custom solutions that can enhance your logistics and reduce your overall costs.

3.   Access across multiple verticals

If you need support across multiple verticals, consolidating your value-added services can allow you to focus on what you do best, without the hassle of multiple service vendors. If you can access a broad suite of value-added services in one place, you could save on costs administering vendor relationships, in addition to costs associated with processing, management, and logistics. Working with one service provider also decreases the lead times associated with all of these activities. To access those benefits you will need a partner proven in the verticals where you are seeking support.

Whether you are looking to cut administrative costs, improve cash-to-cash cycle times, eliminate the high costs of supply chain disruptions — or all of the above — you can benefit from a custom, integrated solution that is guaranteed to reduce your total cost of procurement.

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