Thursday, September 19, 2013

How Important is Excess Inventory Management In Business Operations?

When it comes to managing excess inventory, organized solutions are key to success. Without the proper approach, especially for those handling a large inventory, companies could potentially suffer a great financial loss and obstruct future production.

Before managing excess inventory, companies must implement effective inventory processes. By accurate inventory management, distributors can track trends in purchasing and better prepare their inventory for the future. It is very important to analyze and properly record each incoming item, especially with the rise of counterfeit components entering the supply chain.

Surplus components occupy unnecessary space and delay profit. To successfully manage these issues, a company must dedicate a significant amount of time and resources to the solution. Excess Inventory Management requires a team of quality professionals trained to work within the lines of industry standards.

Excess parts will often accumulate with items that are purchased infrequently. While sometimes it is good for the company to be able to supply such items on short notice or when other companies cannot, it still must be addressed. In many cases, companies can manage the parts in a way that they will not lose too much money, like consignment and outright purchasing. Customized consignment partnerships and outright purchasing are common solutions for many professionals in the electronic industry where distributors can receive an optimal return on their excess inventory.

Harry Krantz Company, one of the world’s most eminent distributors of electronic components, stocks an inventory of more than 750,000 parts. With the latest technology in counterfeit detection and inventory resources, Harry Krantz Company can almost always trace their products back to the original equipment manufacturer (OEM).  The staff at Harry Krantz Company understands the value of Excess Inventory Management and how it improves their supply chain process to better serve their clients. For more information on the leading stocking distributor of military and high reliability components.

Sunday, September 1, 2013

What Are Obsolete Electronic Components?

In the rapidly-growing manufacturing industry, the only constant is change. As the society progresses in technological developments across all industries, from the consumer to the military, at an increasing pace, electronic parts being used to manufacture new products are quickly becoming obsolete as well. Obsolete electronic components are electronic parts that are no longer produced by their original manufacturer. This can create a scarcity of supply, especially if these components continue to be necessary in the manufacturing of various products.

The natural growth of the industry is the primary cause of electronic parts becoming obsolete. However, other causes such as government and environmental bans can make parts obsolete as well. Regardless of the country they are established in, bans can affect worldwide distributorship and production. For instance, if a ban is placed on a product in a certain country, it is no longer able to travel through it. Therefore, its delivery route must be changed and can become too expensive for manufacturers in certain countries to obtain.

Once a component becomes obsolete, the manufacturers that continue to need the part must quickly secure an inventory of it. This can be a rather frustrating and daunting process, unless the manufacturer employs the services of an electronic component supplier that either has a large inventory of obsolete or hard to find parts or has a vast network from which they can acquire them. An experienced supplier will be able to provide you with the components you need and educate you on any alternatives you may want to consider as well.

It is suggested that you begin your search for obsolete electronic components online. Several distributors now have interactive request-for-quote (RFQ) systems where you can search parts by their number or name and receive a quote in a timely manner. It is still suggested, however, that you review the experience and reputation of the suppliers you are researching prior to purchasing parts in order to ensure that you are receiving quality product as well as quality service. Affordability should be considered as well when making your selection.

Harry Krantz Company has over 70 years of experience in obtaining obsolete electronic components. They comply with all government regulations and their counterfeit assurance program is strict and thorough to ensure their clients' satisfaction.