Supply chains were heavily affected by the COVID-19 pandemic, and the electronics industry was no exception. Shutdowns slowed production at the same time consumer demand was changing and, in certain sectors, increasing. After months of challenges, the industry is still dealing with electronic component shortages all over the world, and those shortages are impacting businesses of all types and sizes.
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Sourcing some types of electronic components can prove challenging, resulting in problems ranging from supply chain challenges to halted production. From market demand shifts to supply chain disruptions, many electronic parts have become more difficult to find, including multilayer ceramic capacitors (MLCC) and Microcontrollers. Whatever sourcing challenges you may face, using a procurement solutions provider can make it easier for your business to find rare or difficult components when you need them.
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In the medical industry, developments in patient treatment technologies and techniques have long overshadowed the backend issues industry professionals continue to face. As doctors and nurses adopt new tools to help them diagnose and treat the healthcare facility’s patients, the facility’s procurement team must ensure the inventory continues to satisfy the demand. However, they must tackle and overcome many challenges to fulfill this goal, including out of stock or obsolete items and decreasing budgets.
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As an original equipment manufacturer (OEM), supply chain optimization is always high on your list of priorities. But what does that mean? OEM supply chain optimization is not a quick fix with only one focus, but instead an ongoing strategy. Proper optimization requires analyzing, managing, and ultimately minimizing your inventory and costs, investing in current technology, and developing predictive strategies to streamline production and assembly procedures. Here, the team at Netsource Technology share the top tips for improving your inventory management.
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In these uncertain times, the automotive industry is facing unprecedented turbulence in every aspect of their business, including equipment shortages, supply chain interruptions, labor disruptions, and a variety of new operational systems and policies. In order to remain relevant in this changing world, automotive manufacturers are rethinking their approach to supply chains and procurement.
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Having too much inventory can place a financial burden on your business and present operational challenges. Implementing a good inventory management system may save you from these. However, even when closely monitoring your sales and inventory data, you can find yourself with an excess of inventory. This can sometimes arise from uncontrollable factors, such as a sudden change in trends. Whatever your situation, use these eight strategies to help reduce inventory losses and clear excess stock.
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The world has been forever changed by the spread of COVID-19 as lockdown orders continue and companies across the globe have been closed or had their employee schedules altered in some capacity. Here is a look at how some major players in the electronics industry are responding to the crisis.
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Our lives have been made increasingly easier over the past decade by the introduction of various online shopping platforms, however, not without challenges. Piracy and counterfeiting have been steadily increasing for several years, and online transactions are a major contributor.
End-of-life (EOL) is a term used to indicate that a product has reached the end of its useful life from the vendor’s perspective. When a product reaches its EOL, this means it will no longer be marketed, supported, or sold by the vendor. EOL product support is necessary for providing the appropriate services required to maintain products or technologies after the vendor retires them.
NetSource Technology, Inc. is an independent stocking distributor known worldwide for providing electronic components and global procurement services to contract manufacturers and original equipment manufacturers (OEMs). With more than two decades of industry experience, we have amassed extensive product knowledge and a worldwide network of trusted suppliers that allow us to source and stock both current and obsolete parts. Our on-site inventory houses brand-new components from reputable manufacturers, including end-of-life (EOL) products, hard-to-find parts, and highly allocated pieces with long lead times. Regardless of what electronic component our customers need, we can help them procure it.
