Fast, accurate real-time information exchange is vital to the efficient, successful operation of the business, but keeping track of hundreds of thousands of vendor and customer relationships while maintaining logs of real-time inventory and request data is impossible without automation.
The ERP, MRP, or integration systems used by partner companies are often incompatible with in-house EDI, systems, or EDI software alternatives, requiring intensive manual entry and reconciliation on the part of your team. However, manual processes are notoriously error-prone, and the man-hours devoted to manual entry is better spent on organizational strategy, process improvement, and strengthening customer and vendor relationships.
Organizing your electronic parts catalog to automate electronic component purchasing will not only improve the speed and accuracy of components transactions, but it can also help to streamline processes all along the supply chain. However, there are important things to consider when automating your catalog:
1. Pricing
Every electronic component has a different price. Those prices may change based on purchase volume, parts availability, and variations on book price, broken price, and direct price. Even within these groups, the pricing of specific components may vary depending on the client and the active current contract.
2. Availability
When arranging a purchase or sale, it is important to have real-time, accurate information about your existing stock. If you are selling a product, you must know what items are in stock and available, and deliverable within the promised timeline. Accurate, up to the minute data regarding inventory will not only help manufacturers and distributors to meet all delivery commitments, it is also essential for future planning and procurement activities for all parties in the supply chain.
3. Purchase and Sales History
It is necessary to have a complete, accurate history of your company’s previous interaction with suppliers and customers. Access to historical communications between vendors, suppliers, and clients is crucial to negotiation and strengthening future relationships. With so many variables to track, electronics components manufacturers and distributors often rely on solutions like EDI that are expensive to purchase and maintain, or low-tech, unsecured options like emailing spreadsheets to and from vendors and suppliers. With either of these solutions, problems arise when formats are incompatible, requiring manual data entry and reconciliation.
The ideal solution for cataloging electronic parts is one that is platform-agnostic, compatible with any partner systems including basic spreadsheets, to eliminate the need for manual processing and tracking and provide your team with accurate, real-time data. It must include variable pricing options, link to inventory and availability, and offer information regarding previous interactions with partner companies.
The Orbweaver Platform simplifies the electronics procurement cycle by improving visibility, communication, and productivity across the entire electronics supply chain.
Orbweaver integrates suppliers directly with their customers and provides complete transparency into data and part availability, saving time, money and increasing speed to market.To learn more about the Orbweaver platform, an ideal solution for organizing and streamlining your electronic parts catalog, request a free consultation today.
