{"id":20661,"date":"2022-10-21T07:19:48","date_gmt":"2022-10-21T11:19:48","guid":{"rendered":"https:\/\/a2globalelectronics.com\/?p=20661"},"modified":"2022-10-21T10:15:02","modified_gmt":"2022-10-21T14:15:02","slug":"finding-a-sweet-spot-the-risks-and-rewards-of-sourcing-electronic-components-globally","status":"publish","type":"post","link":"https:\/\/a2globalelectronics.com\/ja\/global-sourcing\/finding-a-sweet-spot-the-risks-and-rewards-of-sourcing-electronic-components-globally\/","title":{"rendered":"Finding a Sweet Spot: The Risks and Rewards of Sourcing Electronic Components Globally"},"content":{"rendered":"\n[et_pb_section fb_built=”1″ _builder_version=”4.16.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” module_alignment=”center” custom_padding=”|||0px||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.16.0″ _module_preset=”default” custom_padding=”|||1px||” inline_fonts=”Arial,Verdana” global_colors_info=”{}”]

The global nature of the electronics industry can make procuring quality electronic components \u2014 at the right number and <\/i>the right price \u2014 a considerable challenge. Strategic access to the right global distribution network provides a way to quickly get inventory from across the globe. <\/strong><\/h2>\n

Here, we lay out a plan for smartly sourcing electronic components globally and give you guidelines for selecting a global sourcing partner you can trust.<\/strong><\/h2>\n

Put simply, <\/span>global sourcing<\/span><\/a> gives you access to parts outside your domestic market. This decentralization can introduce some unique challenges while, at the same time, provide enormous benefits. Looking further afield for parts can add an additional layer of complexity to the logistics planning process and impact your manufacturing timeline. And, without extensive knowledge of the regional electronics market from which you are purchasing, it can be risky to buy parts from suppliers with whom you are unfamiliar. On the other hand, opening up your parts search to suppliers across the globe can introduce more competitive pricing and access to hard-to-find parts. The sweet spot, of course, is finding the parts you need <\/span>when <\/span><\/i>you need them \u2014 at a fair price with the highest <\/span>quality guarantee<\/span><\/a>.<\/span><\/p>\n

Evaluating global sources<\/b><\/h3>\n

We know that <\/span>global sourcing of electronic components<\/span><\/a> is an important strategy in mitigating the negative impacts of changes to the supply chain. Global procurement extends to organizations the ability to maximize efficiency for product margins and organizational success as a whole. When done right, global sourcing reduces costs, increases strategy diversification, and raises product quality. But the key to this strategy is deciding what works for <\/span>you<\/span><\/i>: this means developing a <\/span>strategy of risk-assessment<\/span><\/a> that meets your specific needs. Here are some important factors to consider:<\/span><\/p>\n

1. Logistical Analysis<\/i><\/b><\/h4>\n

One of the largest risks in global sourcing is largely avoidable: logistics. Although it is tempting to take the ease of global connections for granted, to do so exposes your organization to some amount of risk. For example, shipping costs have remained somewhat predictable over the past couple of years, but recently, inflation and geopolitical factors have started to impact these costs. It\u2019s crucial that managers conduct a <\/span>real and in-depth<\/span><\/a> analysis of their various product sourcing strategies to understand the impact of delivery time from sourcing decisions. As we\u2019ve seen from the Covid-19 pandemic, <\/span>trade routes<\/span><\/a> can be severely impacted by anything from political upheaval to viruses.<\/span><\/p>\n

2. Geography and Geopolitics\u00a0<\/i><\/b><\/h4>\n

In order to predict costs and performance on a global scale, it is crucial to stay aware of global politics. Without this awareness, it will be nearly impossible to protect and preserve the global sourcing connections that make your business viable. For example, how does your organization predict or even respond to new trade restrictions and potentially compromised routes? There have been many organizations who have needed to adjust due to the conflict in Ukraine, which has <\/span>severely impacted<\/span><\/a> the availability of materials from noble gasses to metals.\u00a0<\/span><\/p>\n

3. Sustainability\u00a0<\/i><\/b><\/h4>\n

More and more consumers and businesses are concerned with the environmental impacts of their purchases. This market factor, as well as evolving sustainability laws and regulations, makes it critical that companies worldwide consciously reflect upon their own sustainability practices. Factors to consider include: the <\/span>carbon tax<\/span><\/a> exerted on imports as well as International Maritime Organization\u2019s (IMO) plan to cut<\/span> greenhouse gas emissions<\/span><\/a>.<\/span>\u00a0<\/p>\n

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 <\/p>\n<\/div>[\/et_pb_text][et_pb_video src=”https:\/\/youtu.be\/HeQV8FDbmiU” _builder_version=”4.18.0″ _module_preset=”default” width=”59.9%” min_height=”284.6px” custom_margin=”|||60px||” custom_padding=”|1px|0px|0px||” global_colors_info=”{}”][\/et_pb_video][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_row _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.18.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.18.0″ _module_preset=”default” inline_fonts=”Arial” global_colors_info=”{}”]

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Using a partner to help navigate the global electronics market<\/b><\/h3>\n

Similar to brokers, independent electronics distributors work to connect buyers and sellers. But independent electronics distributors have many advantages that brokers and other distributors lack. They are instrumental in assisting OEMs and manufacturers with securing parts due to their unique market position. As <\/span>we\u2019ve previously mentioned<\/span><\/a>, independent distributors offer enhanced quality control, a multitude of logistics solutions, and increased market intelligence. With facilities located around the world, global distribution networks enhance their internal logistics infrastructure while also giving them real-time, boots-on-the-ground local market knowledge. This creates an ideal scenario for global sourcing: it provides organizations with dynamic, high-quality built-in networks that provide access to a greater inventory of parts. It is because of these benefits, as well as the high industry standards they are held to, that they make ideal partners when it comes to sourcing electronic components globally.\u00a0<\/span>\u00a0<\/strong><\/p>\n

With systemic issues in the modern supply chain, it has never been more important to weigh your organizational decisions. By considering the influences affecting your global sourcing, you can make informed decisions to weather these disruptions. With a robust strategy of risk-assessment in hand, you can reduce the instability of global sourcing and make it work for your organization’s needs.\u00a0<\/span>\u00a0<\/strong><\/p>\n

Read more<\/b><\/p>\n

COVID-19 lockdowns continue to impact electronic components supply chains worldwide<\/span><\/a><\/p>\n

Crisis on the horizon? Global energy crunch and the electronic component supply chain<\/span><\/a><\/p>\n

3 strategies for managing long lead times while facing high demand and rising prices<\/span><\/a><\/p>\n<\/div>\n

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 <\/p>\n<\/div>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]\n","protected":false},"excerpt":{"rendered":"

The global nature of the electronics industry can make procuring quality electronic components \u2014 at the right number and the right price \u2014 a considerable challenge. Strategic access to the right global distribution network provides a way to quickly get inventory from across the globe. Here, we lay out a plan for smartly sourcing electronic […]<\/p>\n","protected":false},"author":270,"featured_media":20672,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":""},"categories":[15],"tags":[104,49,54,197],"class_list":["post-20661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-sourcing","tag-electronic-components","tag-global-sourcing","tag-supply-chain-management","tag-supply-chain-solutions"],"yoast_head":"\nFinding a Sweet Spot: The Risks and Rewards of Sourcing Electronic Components Globally<\/title>\n<meta name=\"description\" content=\"The global nature of the electronics industry can make procuring quality electronic components a considerable challenge. 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