{"id":5775,"date":"2021-07-20T13:41:19","date_gmt":"2021-07-20T17:41:19","guid":{"rendered":"https:\/\/a2globalelectronics.com\/?p=5775"},"modified":"2021-07-20T13:51:36","modified_gmt":"2021-07-20T17:51:36","slug":"leveraging-data-driven-excess-solutions-during-times-of-shortage","status":"publish","type":"post","link":"https:\/\/a2globalelectronics.com\/ja\/surplus-inventory\/leveraging-data-driven-excess-solutions-during-times-of-shortage\/","title":{"rendered":"Leveraging Data-Driven Excess Solutions During Times of Shortage"},"content":{"rendered":"

While the market is consumed with searching for parts, data-driven excess solutions provide a way for you to vent excess inventory and gain ROI.  <\/h2>\n\n\n\n

The electronic components market is hot right now. Severe shortages are putting pressure on buyers to focus only on meeting their immediate needs. But while the shortages continue, don\u2019t overlook your excess inventory.<\/p>\n\n\n\n

Buying strategies that might make sense during the shortage \u2014 like securing safety stock or stockpiling \u2014 can have the unintended consequences of building up your inventory far beyond what you need. Moving this excess inventory can free up storage space and clear the way to ROI. The key to this strategy is using data-driven excess solutions<\/a> to identify the best opportunities for resale. <\/p>\n\n\n\n

Identifying your data needs comes first<\/h2>\n\n\n\n

There are lots of independent distributors out there offering data-driven excess solutions that focus on maximizing your ROI. The question, however, is do they have the data you<\/em> need? Whether their data is useful to you or not depends on your market position and the responsiveness of the system that your distributor utilizes.<\/p>\n\n\n\n

You are looking for unique access to rich, current market data that gives you better visibility. In today\u2019s global market, finding a source of global information that is updated daily by a wide number of professionals yields a real-time snapshot of what a part is today. Also, look into the customer base where this information is coming from. You might want to see if the customer base includes multiple tiers or different commodities depending on what your needs are.<\/p>\n\n\n\n

The volume of operations is an important factor as well. If your independent distributor is fielding thousands of requests daily, you\u2019re much more likely to find a buyer. Some distributors may tout their software as a key differentiator. We\u2019ve found that, as a practical matter, a deep knowledge of an up-to-date, highly specialized in-house system provides more value than just operating the latest software.<\/p>\n\n\n\n

\"data-driven<\/a><\/figure>\n\n\n\n

Advantages of data-driven excess solutions versus a quick sell<\/h2>\n\n\n\n

Forecasting isn\u2019t top of mind in the current market when inventory is hot. But we all know this won\u2019t last forever. Longer-term, you want to use a data-driven solution to provide forecasts, market visibility, and additional new insights to inform your decisions. An experienced partner will have the historical data in place to help you improve ROI for your excess. Identifying historical trends for particular parts provides context for your pricing and helps create consignment strategies.<\/p>\n\n\n\n

Evaluating your inventory for long-term value opportunities versus looking for an immediate sell can offer an opening to a partnership. Building a partnership now versus looking for a one-time opportunity to sell means that you\u2019ll be primed and ready to move when the shortage cycle inevitably cools down.<\/p>\n\n\n\n

To summarize:<\/strong> When faced with excess components, you don\u2019t have to go at it alone. You can save time and hassle by partnering with a reliable distributor and use their data to your advantage \u2014 but make sure it is the data you need.<\/p>\n\n\n\n

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