October 2019 – Five ways to improve your component supply
Published on: 10/10/2019
Discover five ways to improve your component supply
Component availability is still an issue for buyers and procurement specialists within the electronics industry, with average lead times still exceeding 17 weeks. When demand is at an all time high, it is crucial for buyers to explore all of the supply chain options available.
Five ways to improve your component supply
GD Rectifiers have compiled their five top tips to improving your component supply:
1. Product forecast
Providing an annual product forecast enables distributors to forward plan your demand and order stock to meet your requirements and timescales. This helps avoid disappointment when component demand is high, and ensures you have the order coverage you require.
2. Scheduled orders
GD Rectifiers strongly advises their customers to place scheduled orders to ensure they have stock of the component they require on their shelves for when they need it. GD Rectifiers works with their customer on outlining the scheduled order and agreeing how many devices will be taken in each monthly drop.
Scheduled orders usually provide three months’ worth of order coverage so that customers can feel confident in knowing the product will be there when they need it. It provides customers with the flexibility of being able to pull in products last minute if the demand suddenly increases rapidly. It also allows customers to apply these learnings as they can see the changes in demand in real-time and can amend their next annual product forecast accordingly.
3. Call-off orders
GD Rectifiers’ call-off orders work in a similar way, a large order is placed for popular products and the customer has a set period of time to take the full quantity by. GD Rectifiers works closely with customers on call-off orders, ensuring customers are told when the call-off orders are running low so that they have plenty of time to build the stock back up. Call-off orders work well because customers have the flexibility on pulling the products in and controlling their stock deliveries. It also protects customers from interim price increases because they they have already placed the order.
4. Alternative parts
It is often necessary for buyers to look at alternative parts when the lead times on the components that they require are too long. In many cases, a more superior mechanically interchangeable device could be used as an alternative in lieu of the actual part required. GD Rectifiers will always look for alternative parts that can be used if customers can not accept long lead times, this often involves a more superior part from the same manufacturer or sometimes they can offer a like-for-like device from another manufacturer, either from stock or on a shorter lead time.
5. Increase buying sources
When the industry is inundated with component demand, it might be an option to increase your buying channels by using a few more distributors, trying to contact the factory direct (if you have an account) or by shopping for the part online. GD Rectifiers always works hard to offer customers alternative solutions where possible to avoid customers shopping elsewhere.
Top tips to sourcing components with little or no coverage:
1. Call your preferred distributor
If a buyer is in urgent need of stock and has no coverage, GD Rectifiers would advise calling your preferred distributor and asking if they have stock, can get hold of stock quickly or know of any stock available in the market. Your distributor will work hard to source the components you need and trust that if there is stock available in the market, your distributor will find it for you.
2. Check product availability online
A quick and easy way to check availability of a product is to look online. Search the manufacturer name and part number in to a search engine and check the results. Buyers should be sure to look at the Google Shopping results too as these will filter the devices by price, helping buyers to quickly differentiate the most cost-effective option.
3. Discuss with your distributor the option to use a mechanically interchangeable alternative
This is a relatively easy and quick process; your preferred distributor will be able to advise the best route for you to take. Buyers should make sure that the distributor they use is experienced and has a knowledgeable and reliable technical team that can offer product suggestions. If you know your current distributor cannot offer the extensive technical knowledge you require then feel free to call GD Rectifiers on: 01444 243 452 for support on finding product alternatives.
4. Offer to buy back stock from a customer or a source that hasn’t used the stock yet or has no immediate requirements for the parts
This will not be most buyers preferred option and they may just fall back on this as a last resort, but it should still be considered as an option when a buyer has very little or no order coverage.
GD Rectifiers is an authorised distributor for over 30 of the world’s leading component manufacturers. We work closely with our customers on component design and selection, offering technical support and advice every step of the way. We pride ourselves on our unique positioning, which offers customers an excellent and reliable service from initial enquiry right the way through to production.
We source the components you need on time and within budget, we have access to components from some of the world’s leading manufacturers including: IXYS, Westcode, Littelfuse, Dynex, Semikron, Eaton Bussmann and Mersen. GD Rectifiers stock over 170,000 components at our factory in West Sussex, with the ability to pull in non-stocked product lines quickly to ensure we deliver your products when you need them.
We take pride in working with our customers on hard-to-find and long lead time components, we have a wide range of sources and contacts throughout the industry which we can use to help source components in high demand. We liaise directly with the factories to secure the best price, lead time and technical support on your requirements, ensuring fast delivery on your project.
GD Rectifiers offers a vast product range of semiconductor components, power assemblies and controllers, heatsinks and hardware, circuit protection devices, magnetic transducers and wound products, passive components and traction converters and subsystems.
For further information on GD Rectifiers’ product range or to discuss your requirements, please call 01444 243 452 or email email@example.com.