To produce excellent products, it is very important to look at where and how you source the various components required to make these products. Whether you are in the automotive industry, aerospace, or computing, it is crucial to take the right steps while sourcing the electronics components required to make your products work.
At Lantana, we help our clients get quality products by giving them all the data and insights they need while buying electronics components in the open market. The role we play is even more crucial during these times when chips have become very hard to find, as the demand for electronic devices such as computers and phones has been surging in the last 2 years.
In today’s article, we will take you through some of the crucial things you need to put into consideration while sourcing electronics components in the open market.
Know what you need and plan ahead
Whether you are building gaming PCs or assembling cars, it is important to know the electronics components you will need to have your product ready for sale. Once you have determined the components, place your orders ahead of time. The purchasing and quality assurance processes usually take a couple of weeks depending on the kind of components you are purchasing.
Order fulfilment times have even further gone up due to the chip shortage that has been going on for close to two years now. While planning, it is important to factor in delays in order fulfilment since most electronics component suppliers are overwhelmed by the demand. At Lantana we offer clients real-time insights into the future of the supply chain. This information can be very useful while planning.
Don’t compromise quality for convenience
Even when the demand for electronics components is way above the current supply, it is important to maintain the quality of your products. So, all the electronics components you purchase should go through the quality assurance process to ensure they meet your minimum standards as far as quality is concerned.
Lantana will save you most of this burden by testing the various components on behalf your behalf and recommending suppliers that meet your minimum quality standards. Don’t skip any quality assurance steps, even if it means waiting for a little longer just to ensure what you are getting is of good quality.
Buy in bulk whenever you can
There are lots of benefits that come with buying electronics components in bulk. Some of these benefits include reduced prices, lower-order fulfilment costs, and less disruption in your production processes that need these components. If you have the cash and you get the chance, it is always best to buy in bulk especially during these times when the supply for electronic components is very unstable.