The benefits of implementing electronic parts catalog software include:
1. Increase Efficiency
Deploying software to manage the electronic parts catalog improves efficiency throughout the supply chain. Manually sourcing and reviewing item and pricing information, availability, verifying individual customer contracts, and maintaining acceptable alternatives for unavailable parts takes hours of time and effort on the part of employees. With an electronic parts catalog, the information is held in a centralized database and is readily available within seconds.
2. Reduce Errors
With a manual process, drawing from different data sources and paper files results in the potential for human error. Electronic parts catalog software eliminates the need for manual sourcing and data entry, which dramatically reduces processing errors – errors that are costly to investigate and rectify and can negatively affect relationships with business partners.
3. Instantly Update Data
Information stored in an electronic parts catalog can be quickly updated. While stored in a centralized location, a single change can be immediately made available to all parties with access to the directory. The distribution of accurate information to all parties is another way of reducing costly errors and allowing employees to focus on higher-level initiatives rather than administrative tasks.
4. Unlock Valuable Data Insights
With an electronic parts catalog, an enterprise has access to historical as well as current data which can be used for data analytics. Analytics can provide valuable, actionable insights affecting pricing, ordering, and forecasting to help companies make smarter, more informed business decisions.
5. Improved Communication
Using an electronic parts catalog means that all parties draw information from a single source. This source can help to improve communication throughout the supply chain, providing accurate information regarding:
- Order status
- Sales and suppliers
- Inventory and warehousing
- Logistics and delivery
Without electronic parts catalog software, sales teams are required to manually pull information from different sources, a time-consuming process prone to errors and miscommunication. However, with the correct software, an electronics manufacturer can improve communication, data analytics, and insights, and save employee time and money, all while reducing errors that are costly to discover, investigate and rectify.
The Orbweaver Platform is an electronic parts catalog software built specifically for the electronics manufacturing industry. Orbweaver seamlessly integrates with electronics manufacturers, suppliers, distributors, and customers to eliminate data management tasks by automating the RFQ, RFP, and PO process and improving transparency throughout the supply chain.