A component manufacturer produces individual parts of a system or product to meet specifications. This can involve manufacturing a vast number of components for various functions and additionally, the management of thousands of request for quote (RFQ) and purchase order (PO) submissions. As data within component manufacturing systems become increasingly complex, these companies are continuously improving logistics and operations to stay competitive.
Market forces like increased global competition, lack of skilled labor, and evolving regulatory policies are putting pressure on component manufacturers to improve supply chain efficiencies. To combat these forces, companies are adopting automation solutions like electronic data interchange (EDI) systems and e-procurement software to help them increase production capabilities, decrease operational costs, and gain a competitive advantage.
Component manufacturers benefit from automating communication and document exchange between business partners by eliminating inefficient, error-prone, and time-consuming manual processes. Automation can also accelerate order processing, delivery times, and improve overall speed to market, leading to cost savings across the board.
By streamlining business cycles with automation and increasing overall production, component manufacturers can focus on growing their business by improving RFQ and PO response and accelerating speed to market. Employees perform less manual, error-prone tasks and instead, improve on aspects like customer experience, support, and business relations. Overall, increased business and stronger relationships can lead to additional revenue for manufacturers.
The Orbweaver Platform is a procurement cycle automation system built specifically for component manufacturers to streamline inefficient and manual processes, like RFPs, PFQs, and PO’s, saving valuable time lost and allowing employees to focus on profitable business opportunities rather than time-consuming tasks.
The Orbweaver team understands the needs of component manufacturers and created our product to securely transfer data, seamlessly integrate with existing systems to collect and translate data between dissimilar systems, and deliver real-time data insights to enable better pricing decisions and better inventory management.
Request a consultation with our electronics manufacturing experts to discover how automation can streamline internal processes to save valuable time and close deals faster.