Increasingly, distributors are struggling to manage and respond to the double ordering of electronic parts. Overwhelming demand for passive components and the massive growth of the Internet of Things (IoT) is driving this supply chain crisis.

The electronics manufacturing industry has changed dramatically over the past several years, and those changes show no signs of slowing down soon.

Blockchain integration is a new technology that’s revolutionizing various businesses and industries. With blockchain or distributed ledger technology, an organization has access to incorruptible, verifiable transaction records that automatically update for all parties in real-time.

Companies within the electronic manufacturing industry that implement a purchase order management system find that automation can transform their previously manual processes by streamlining their business, and giving valuable time and resources back to their team to focus on high-level strategic initiatives.

Organizing and streamlining your purchase order management often involves time-intensive processes that consume valuable employee resources.

Bill of Materials processing software refers to applications created to help a company manage the complex demands of bill of materials request tracking.

The electronics component supply chain is incredibly complicated, and the continuing addition of suppliers, vendors, and manufacturers in a global marketplace only adds to that complexity.

When obtaining supplies, products, or services from vendors many companies might be faced with the question, “what is a purchase order?”

The RFQ process is a standard business practice within the supply chain in which a buyer requests of a supplier, the price and availability for certain goods or services. Other flow down requirements such as quality or contractual obligations may also be incorporated.