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.

An RFQ, or Request for Quotation, is a document submitted to potential suppliers and returned with an itemized list of prices. RFQs are preferable for items that are exact and quantifiable, like hardware or components.

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.

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

Managing the data in the electronic manufacturing supply chain is a constant challenge in the electronics component industry.

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.

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.

Organizing your electronic parts catalog can be a daunting task for manufacturers, distributors, and purchasers of electronic parts.

As procurement cycle data changes and grows, it becomes more and more complex and difficult to manage manually.