Letter of Authorization Management: LOA IQ
Effortless Letter of Authorization Management that empowers sourcing orgs to harmonize and analyze critical LOA data and automate tasks for optimized operations
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Automated Letter of Authorization Generation
LOA IQ takes the manual labor out of generating Letters of Authorization for thousands of components. By automating the creation of essential documents, including component lists with negotiated pricing and authorization letters, sourcing professionals can save significant time and reduce errors.
- Take back your time: Drastically reduce the time spent on manual document creation.
- Reduce errors: Minimize the risk of mistakes in LOA documents.
- Guarantee consistency: Ensure uniformity in all your LOA-related documents.
Comprehensive Tracking and Management
Say goodbye to tedious Excel files. LOA IQ provides a centralized platform to track which components have been issued LOAs and identify additional components in need of LOAs for the remainder of the fiscal year. Part Analytics’ Letter of Authorization management module makes it easy to stay organized and efficient.
- Centralized Data: All your LOA information in one place.
- Real-Time Updates: Stay informed with real-time tracking of LOAs.
- Efficiency Boost: Simplify the tracking process and reduce overhead.
Verification and Compliance
Ensuring contract manufacturers use negotiated pricing can be cumbersome. LOA IQ streamlines the verification process by highlighting areas where negotiated pricing can be leveraged, helping you verify that the pricing in Costed BOMs aligns with your agreements.
- Automated Verification: Quickly verify compliance with negotiated pricing.
- Enhanced Oversight: Gain better control over your supply chain agreements.
- Cost Savings: Ensure you’re getting the best pricing from your contract manufacturers.
Checklist
Negotiations Planning
Download our BOM Cost Management and Negotiation Prep Checklist to master the steps of analyzing and managing BOM costs. Empower your negotiations and enhance your supply management strategy.
The Importance of LOAs
The Role of LOAs in Sourcing and Negotiations:
In the electronics manufacturing supply chain, Letters of Authorization (LOAs) are critical documents that allow contract manufacturers to leverage negotiated pricing from component manufacturers or distributors. They ensure that the pricing agreements are honored throughout the supply chain.
Challenges Without a Sourcing Operations Platform:
Without a sourcing and supply management platform like Part Analytics, Letter of Authorization management is a manual and arduous task. It involves generating numerous documents, tracking issued LOAs, and verifying compliance—all typically done through cumbersome Excel files and manual processes. This not only consumes valuable time but also introduces a higher risk of errors and inefficiencies.
Why Part Analytics LOA IQ
Part Analytics’ LOA IQ module transforms the LOA management process. By automating document generation, centralizing tracking, and simplifying verification, LOA IQ helps sourcing professionals manage their LOAs more efficiently and accurately. With LOA IQ, you can focus on strategic sourcing and procurement, knowing that your LOA processes are streamlined and under control.
Try Part Analytics with your data, free of charge
Schedule some time to meet with us & review your needs. Whether you’ve got 1,000 or 100,000+ parts on your shortage list, we can help.
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