Companies across the electronics equipment industry rely on their relationships with leading electronic part distributors to source the best, most cost-effective components for the products they build for their customers.
Procurement departments must also seek new ways to mitigate risk in their daily sourcing activities. Risk management is at the top of every procurement team’s mind, with uncertain demand, fluctuating lead times, and numerous other factors to consider. Join us as we explore ways for teams to understand better and mitigate risk.
Five Ways Procurement Teams Can Address Risk
Reducing risk starts with OEMs establishing relationships with suppliers and maintaining regular communication to mitigate product delays due to supply chain disruptions. Here are four areas of focus to ensure supply chains remain robust:
● Build relationships with a diversified set of suppliers across the supply chain – OEMS must establish regular and timely communication to mitigate potential product delays due to supply chain disruptions.
● Create transparency and collaboration – Do not let procurement teams work in a silo. Open up lines of communication and collaboration with other teams, such as engineering, and share data to ensure everyone is on the same page.
● Enhance cost management – Access market intelligence, insights, and trends from across the supply chain to ensure you keep track of the relative costs of components and buy when prices are down.
● Be aware of obsolescence – Parts become obsolete as they approach the end of their standard lifecycles. Procurement teams need to be aware of the parts at risk of obsolescence and identify alternatives so they are not caught off guard.
How Findchips Can Help
Supplyframe’s Findchips platform is a powerful search engine that aggregates and normalizes data from the leading electronic part distributors in the electronic component market. Findchips lets you compare multiple distributor part offerings from a single-part search.
View price and stock information from authorized distributors, review electronic part attribute data, compare parts, find form-fit-function alternate parts, and even access part models and schematics.
Here are some of the features Findchips offers to today’s industry professionals:
1. Price and Inventory Search
Findchips.com is a Supplyframe website that is easy to use, simply type in a full or partial part number to search for semiconductors, electronic components, and industrial supplies. Findchips offers a single place to view up to date pricing and inventory from the world’s largest distributors. You can even limit results based on the quantity you need, in stock only, exact matches only, and filter by manufacturer.
2. Part Alerts
Stay on top of your best purchasing options by setting email notification alerts for changes on a specific part number. Alerts can be set on purchasing considerations like stock quantity changes above or below a specific inventory amount.
This feature is available for free with a Findchips registration, where you will be able to view and manage all of your alerts in one place.
3. Part Details
Whether you are a design engineer or a purchasing professional, you will find the Part Details page very useful in your day-to-day work. After performing a part search, click on the Part Details tab to research Price & Stock, Insights, Purchasing Risk, Part Details, Design Risk, Alternate Parts, Resources and Related Parts.
4. Parametric Search
From the Findchips.com homepage you can click the parametric search tab and simply type in product specifications you are looking for or you can scroll down to browse electronic parts by category to start your parametric search.
From here you can navigate by product classification and filter by the parametric values that are most important for your design.
Of course, once you have found that perfect part for your design, Findchips.com will integrate the most up to date price and inventory details so you can purchase directly from distributors.
5. Part Comparison
The Findchips Part Comparison feature is accessible through the Parametric Search Experience. Simply click on the checkboxes beside your desired parts within the parametric results table and click the Compare button to see a side-by-side comparison of the part data.
To learn more and register for a free account, visit Findchips.com today!