Digital Transformation for Direct Materials Sourcing – Part 1: Spend Visibility
Successful companies have always been concerned with clarity regarding their spending patterns. For modern enterprises, having a good understanding of what they’re buying, from whom, at what price, and at what level of risk, is indispensable for long-term survival. Having good spend visibility is even more crucial for manufacturers. Direct materials can account for as […]
How to Resolve Part Shortages Using Sourcing Software
Most companies today still search for parts one by one and don’t have a solution to help automate the process. However, there is a much better approach that companies can take to resolve part shortages. While it’s often challenging to get a comprehensive, holistic view of part locations and mitigate risk, Part Analytics can simplify the process in a number of ways. Here we’ll go over the benefits of integrating Part Analytics into your company’s operations.
OEMs & CMs Should Collaborate to Face Inflation Head-On with More Innovative Consolidated Buying Strategies
Over the past several years, the procurement landscape for OEMs has changed dramatically. Inflationary pressures have grown at an alarming rate, contributing to a marked increase in marketplace instability.
The COVID-19 pandemic caused severe disruptions across the supply chain. For example, a shortage of semiconductors affected entire markets—one industry, automotive manufacturing, had to significantly reduce its production because the chips on which modern vehicles depend simply weren’t available in the required volumes. The natural result of that scarcity was a substantial rise in semiconductor prices.
Even as the pandemic began to abate, the general consumer marketplace was experiencing levels of inflation not seen for decades—by January of 2022 the Consumer Price Index had risen to an annualized rate of 7.5%.
The Goldilocks Effect: What Factors Make a Strategic Sourcing Platform “Just Right”
Any company stands to benefit from automating their material- and service-sourcing processes, and many turn to strategic sourcing platforms to do so. They would do well to begin by clarifying what their strategic sourcing management solution must accomplish according to their specific niche and the most immediate supply chain links that impact their operations. Parts […]
What Are Electronic Component Alternatives?
The concept of alternative electronic components may be simple, but its implementation is not. Price is no longer the primary consideration. Availability has become a crucial factor. When drop-in replacements, functional alternatives, and custom equivalents are added to the mix, the complexity of sourcing alternative electronic components increases.
Pivoting the Electronics Industry to Design for Supply
Sprawling global supply chain shortages and hyper-competitive sourcing ecosystems are forcing electronic product engineers to redesign critical products, extend lead times and design cycles, and grapple with procurement headaches that bog down creativity, innovation, and quality. For many, the approach so far has been to hunker down and get through it.
Let’s talk about what the electronics manufacturing industry can do to address the headaches around increased lead times, redesigns, and the other issues surrounding sourcing/procurement and supply chain shortages.
Better RFQs for Direct Materials Sourcing
As manufacturing organizations continue to grapple with “new normal” and post-pandemic supply chain issues, trying to right the ship against waves of uncertainty, price fluctuation & inflation, and scarcity remains challenging. So, how do you win with direct materials sourcing in today’s hyper-competitive supply chain? And how can you use smart technology to remediate your direct materials sourcing?
Part Analytics Featured in Spend Matters: Direct Materials Sourcing – The Endless Search for Parts
Solving Electronic Component Sourcing/Shortage Issues
Electronics component supply chain issues are plaguing companies around the globe. From sourcing to procurement, this guide will help you get back on track.
Part Analytics Raises $3M Venture Round to Accelerate Digital Transformation of Sourcing
MILWAUKEE–(BUSINESS WIRE)–Part Analytics, the direct sourcing software platform that applies artificial intelligence to reduce costs, identify hidden risks and accelerate product development for global manufacturing companies, is announcing the closing of $3 million Venture Round from MK Capital. The new partnership with MK Capital allows Part Analytics to build on momentum with Fortune 1000 companies, […]