Components Sourcing

With our rich experience in assebmly and perfect supply chain, we are also glad to help you if you need only components ( parts ). We have competitive price for specific components.

Fastlink Electronics has over 10 years of experience in electronic component procurement. The purchasing team of pcb assembly service supplier Fastlink Electronics has more than 5 years purchasing experience. We source components from mainland China and overseas countries. It is because of such a strong procurement team to provide the most competitive BOM quotation for turnkey inquiry. Our BOM quotation time can be as fast as 24 hours. Fastlink Electronics turnaround service combined with enhanced parts procurement system will meet the needs of customers in small and high volume production.

RECOMMENDATIONS FOR EFFECTIVE COMPONENTS SOURCING

To achieve effective components sourcing, manufacturers should consider the following recommendations:

Build strong relationships with suppliers: 

Developing strong relationships with component suppliers can lead to better communication, quality control, and cost management. Manufacturers should work closely with their suppliers to understand their capabilities and limitations and to build trust and collaboration.

Diversify the supply chain: 

By diversifying the supply chain, manufacturers can reduce the risk of supply chain disruption and ensure continuity of supply. This can involve working with multiple suppliers, dual sourcing, or sole sourcing with contingency plans in place.

Conduct regular supplier performance reviews: 

Manufacturers should regularly review the performance of their suppliers to ensure that they are meeting the required quality, cost, and lead time requirements. This can involve setting key performance indicators (KPIs) and conducting regular audits.

Monitor trends in the market: 

Manufacturers should stay up-to-date with market trends, including changes in technology, regulations, and pricing. This can help them to identify potential risks and opportunities and to adjust their sourcing strategies accordingly.

Use technology to improve efficiency: 

Manufacturers can use technology such as procurement software, automation, and artificial intelligence to improve the efficiency of their sourcing processes. This can help to reduce costs, improve accuracy, and increase speed.

By following these recommendations, manufacturers can optimize their components sourcing processes and ensure continuity of supply, quality, and cost-effectiveness.

FACTORS TO CONSIDER IN COMPONENTS SOURCING

When sourcing components for manufacturing, there are several factors that need to be considered. These factors include:

Quality: The quality of components is critical to the overall quality of the product. It is essential to ensure that the components meet the required standards and specifications.

Cost: The cost of components is a significant consideration in manufacturing. It is necessary to balance the cost of components with the overall cost of production to achieve profitability.

Availability: The availability of components is important to ensure continuity of supply. It is necessary to ensure that components are readily available when needed.

Lead times: The lead time required to obtain the components is another critical factor. Long lead times can delay production and affect the delivery of the final product.

Location: The location of the supplier can impact the cost and lead time of the components. It is necessary to consider the location of the supplier to minimize logistics costs and delivery times.

Supplier reputation: The reputation of the component supplier is important to ensure the quality and reliability of the components.

Compliance with regulations: It is necessary to ensure that the components used in manufacturing comply with relevant regulations and standards.

By considering these factors, manufacturers can ensure that they source the right components at the right price and in a timely manner, while maintaining quality and compliance.

COMPONENTS SOURCING PROCESS

  1. Confirm with customers and sort out BOM for inquiry: Part number, manufacturer, quantity needed etc.
  2. Confirm the list of suppliers to be inquired about. The purchasing team will identify no less than three suppliers from the list of qualified suppliers and send them RFQ for quotation.
  3. Collect quotations and determine suppliers according to the methods and criteria listed in the inquiry document according to the principle of meeting the procurement requirements, quality and service equal and lowest price.
  4. Confirm all components are original and new and terms of shipment.
  5. Confirm orders and arrange shipment for customers.

TYPES OF COMPONENTS

There are several types of components used in manufacturing. Some of the common types of components include:

  • Active components: These are electronic components that can control the flow of electricity, such as transistors, integrated circuits, and diodes.
  • Passive components: These are electronic components that do not have the ability to control the flow of electricity, such as resistors, capacitors, and inductors.
  • Electro-mechanical components: These are components that combine electrical and mechanical functions, such as switches, relays, and connectors.
  • Optoelectronic components: These are electronic components that can detect or emit light, such as LEDs, photoresistors, and photodiodes.
  • Semiconductor components: These are electronic components made of semiconductor materials, such as silicon, and are used in a wide range of electronic devices, including computers, mobile phones, and televisions.

Other types of components include power supplies, sensors, actuators, and transformers. The type of component required will depend on the specific product being manufactured and the intended application.

ADVANTAGES OF FASTLINK COMPONENTS SOURCING SERVICE

  • Independent and professional parts procurement department with fast response speed, within 100 sets of sample within the fastest 4 working hours to provide quotes, small batch and batch orders within 1-2 working days to provide quotes, efficient for you to save time.
  • With a mature supply chain, we have hundreds of long-term strategic suppliers and excellent suppliers to provide competitive products and services.
  • We can recommend cost-effective alternative components. If necessary, we can provide customers with alternative selection solutions to help customers reduce costs.
  • Ensure the quality and performance of components from the source. Our components are purchased from well-known electronic component manufacturers and primary component distributors, or from designated component suppliers according to customer BOM requirements. Each component is inspected before loading to ensure its quality.
  • Short purchasing time, the fastest 3 days to collect components, greatly shorten the delivery time.
  • Provide components escrow service. The components storage department can provide conponents escrow service for the next assembly of the components that can not be used up once. The conponents storage department has professional components storage equipment, so that the temperature and humidity are strictly controlled within the specified range, in order to maintain the integrity of the functional components and high quality.

COMPONENTS SOURCING STRATEGIES

There are several components sourcing strategies that manufacturers can use to ensure continuity of supply and optimize cost and quality. These strategies include:

Single sourcing: 

This involves sourcing components from a single supplier. This strategy provides a close relationship with the supplier, which can lead to better communication and quality control. However, it can also increase the risk of supply chain disruption if the supplier experiences issues.

Dual sourcing: 

Dual sourcing involves sourcing components from two suppliers. This strategy reduces the risk of supply chain disruption by providing a backup supplier in case of issues with the primary supplier. It can also create competition between suppliers, leading to lower costs.

Multiple sourcing: 

This involves sourcing components from several suppliers. This strategy provides the greatest supply chain resilience since it reduces the risk of disruption from any single supplier. However, it can also be more complex to manage and can lead to higher logistics costs.

Sole sourcing: 

Sole sourcing involves sourcing components from a single supplier, but with an agreement that the supplier will not provide the same components to any other manufacturer. This strategy provides a close relationship with the supplier and can lead to better communication and quality control. However, it can also result in higher costs and may limit the manufacturer’s ability to switch suppliers in the future.

The choice of sourcing strategy will depend on several factors, including the criticality of the component, the availability of suppliers, and the cost of the component. By selecting the right sourcing strategy, manufacturers can ensure continuity of supply and optimize cost and quality.

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