Tell-Tale Signs Your Component Sourcing Strategy Isn’t Working

Are your business practices bottlenecking? Are you customers always receiving their orders later than promised? Are your employees struggling to communicate and are you battling persistent errors within your component processing? If so, you probably don’t have to look far to find the main issue.

When your component sourcing strategy isn’t working, it creates a domino effect and brings your other business practices, departments, and your production line to a standstill. Sourcing electronic components like this ethernet transceiver part is easier and cost effective when you move your procurement process online to Sourcengine.com. Check out their website now and upload your BOM to source the parts you need within minutes.

So, what other tell-tale signs are highlighting the insufficiency of your sourcing strategy? Let’s take a closer look.

Poor inventory handling

Does your procurement team really know which products need replacing? Or which parts you need to fulfil orders? If not, then you can expect all kinds of issues with your inventory. Perhaps you find yourself struggling to shift huge numbers of components, or you have too few to fulfil a customer’s order, whatever the issue, when your procurement process isn’t working, you can expect issues like these to simply get worse.

Orders are arriving too late or not at all

If your customer services team is dealing with a constant barrage of irate customers demanding to know where their orders are, then you can expect bad feedback and to lose those clients to your competitors. If you’re unable to deliver your products within the time frame agreed, and this is becoming a persistent issue, then looking at your procurement process and your supply chain is recommended. If your chosen vendors are unreliable or failing to keep their arrangements with you and your business, then it’s your company that will suffer most. Update your procurement process and search Sourcengine.com for fully vetted suppliers.

Transactions are out of control

When your expenses suddenly explode and your business is essentially losing money, you need to look at your procurement process. Duplicate orders, employees ordering parts on a whim, even mistakes within your BOM can lead to all kinds of financial issues and leave your business struggling to turn a profit. Examine your purchase history to see where things might be going wrong.

Other departments are in the dark

Interdepartmental communications are essential for any business, but if your departments are struggling to get on the same page, it’s only going to reflect poorly on your business and your customer experience. Communication issues could be a tell-tale sign that your component sourcing strategy isn’t working. If employees don’t know who needs what part, who has placed an order or even when to expect a delivery, employees are only going to become frustrated and make more mistakes.

Final thoughts…

A proficient procurement process will prevent bottlenecking issues across your business, improve communications and help you focus on client satisfaction. If your component sourcing strategy is causing issues, then move it online and check out Sourcengine.com.

 


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