EOL & Obsolescence Best Practices: Buying & Management Tips for Controlling Inventory
Posted by Jenny Miller on Thu, Jan 28, 2010 @ 03:08 PM
Who to Trust, Where to Find & How to Procure Electronic Components and Obsolete Parts
Navigating the world of electronic components is challenging on a normal day, much less at the eleventh hour when you need parts NOW and don't know where or how to get them. These three strategies for Buying electronic components and managing EOL and obsolscence should help; both in preventing the last-minute shortage and in securing the help you need if, and more likely when, you have inventory supply needs.
Who to Trust for Your Electronic Components
At the end of the day, it's too critical to your business to leave who you are partnered with for your electronics component procurement to chance. Throughout the buying cycle, who you do business with has a huge impact on the achievement of your procurement goals. Having a business partner you can trust creates long term success. You'll want to make sure who you've aligned yourself with an electronics distributor who is able to secure the parts on time, every time. Some great questions to ask of a potential electronics component procurement partner are:
- Are they an ISO 9001:2000 certified vendor?
- You can look at this ISO Certification Directory to verify their certification
- Do you see the ISO logo or even the ISO 9001:2000 certificate on their website?
- Can you trust them?
- Do they have references you can call?
- Google them! What comes up?
- Is there any outside information you can find on electronic components blog or community forums?
- What type of proven track record do they have and how can they showcase it to you?
Where to Find Replacement & Obsolete Parts
You're at the end...you need the parts, and you need them yesterday. Where can you go to find them?
- Find your way to dependable electronic component distributor's part search:
- -Pegasus Electronics
- -E Electronics
- -New Line International
- -IC Trends
- Google your part number, potentially pointing you in direction of some great sources
- Check your part numbers to make sure they aren't obsolete or end of life. If so, see if there's a cross that can sub in for the part that could be easier to find
How to Procure Electronic Components & Stock Inventory
You want to make sure you're find the best part, and the best price, at the best place. You also want to do this in the shortest time possible. Finding that trusted electronic components distributor who has the proven track record and experience will make your life easier. A good electronic components distributor will be able to:
- Provide a searchable online database to find your electronic component
- Be equipped with online RFQ capability
- Help you find possible crosses to your part number if needed
- Ensure quick response - within 24 hours - to update you on your need
- Provide you with competitive pricing
- Have a variety of pricing options, credit/COD terms
- Provide easy access to live procurement specialists to aid your search
- Move forward as a partner to assess and support your entire inventory management cycle
Other Electronic Components Buying Issues
There are many other issues to look at in the component procurement buying cycle, among them the danger of counterfeit components and preventing shortages from the outset. These need space to be unpacked, which will be done in subsequent blogs.
So what do you think? Do you have any tips for other buying and procurement of electronics components? We'd love to hear more. We will be following up this blog with more detail on some of these areas of discussion. Any relevant comments you add here we'll be sure to incorporate into future electronic components blog posts.
