How to Manage Excess Inventory

Excess inventory in the technology manufacturing industry is a collection of components or product that is not usable in production by the manufacturer who owns it. It can be caused by a sudden obsolescence of materials due to rapid advancements in technology or poorly managed material flow and stock demand. Manufacturers that face this problem need a plan as to how to manage this inventory, or it will result in lost profits due to capital being tied up in the inventory, as well as the cost of storing the materials. Working with a reputable electronic components distributor can help connect the manufacturer with prospective buyers, assist in turning a profit, and freeing up the storage space. Additionally, a distributor knowledgeable about market trends can educate the manufacturer on the best time to sell, buy or keep their inventory.

The most efficient and effective way to deal with an excess inventory is to work with an electronic components distributor that offers a consignment program. The program allows the manufacturer to put their inventory on the market through the distributor without selling it outright. The distributor markets the product to an extensive network of possible buyers for a fee, streamlining the entire process in a timely and efficient manner. The manufacturer still owns the product up until the point of sale, and can withdraw it from the market before then.

When choosing the distributor best fitted to help you manage your inventory, select a company with   extensive experience in marketing and selling materials. This will ensure that the distributor understands market trends and has the network of buyers necessary to sell your product. Furthermore, it can help you gain invaluable information from them on the proper time to sell, keep or buy products. An excess inventory consignment program with the right distributor can help ensure an efficient, smooth sales process as and can help the manufacturer receive the best possible sale price for their inventory.

Harry Krantz Company is an exemplary electronic component distributor that has over 70 years of experience in excess inventory consignment as well as supplying components to various industries including the military and aerospace markets. Their knowledge and reputation grants them access to a large network of buyers to help turn manufacturers’ excess inventory into profit. Additionally, they utilize their ongoing marketing efforts to ensure that new buyers are attracted to the manufacturers’ products as well.

How Can You Find the Best Electronic Component Suppliers For Your Business?

In today’s fast-paced market, manufacturers often don’t have the time or resources to procure the necessary electronic parts. As a result, electronic component suppliers are in high demand. Suppliers are able to acquire parts essential for production, even if they are hard to find or obsolete. However, not all suppliers are the same. In order to find a reliable supplier, it is important to thoroughly research your options and consider factors such as quality, efficiency and experience.

The primary concern of the manufacturer when searching for a supplier should be quality. One of the main threats to the quality of your production will be whether the components you used are authentic or counterfeit. Unfortunately, counterfeit parts are common in the supply chain and their use can be catastrophic, specifically in aerospace and military industries. Therefore, when researching your options of electronic component suppliers, inquire about the quality assurance programs.

While the quality assurance process can vary from one industry to another, many procedures are analog. It is important that the supplier you hire tests each component before selling it to your company. Suppliers that perform electrical testing over temperature and have a system for quality certifications such as ANSI/ESD, ISO, and AS can be expected to provide you with authentic electronic parts.

Often the most informative way of researching suppliers is online. By using this method, you will be able to search the components you need, request a quote, compare prices and services, as well as read reviews. Testimonials and reviews are some of the benefits of performing your research online as you are able to see people’s honest opinions about the suppliers as well as their experiences. Some websites even compare suppliers to make the process easier for manufacturers.

Experience and efficiency are the other two factors that are important throughout your relationship with the supplier. Look for electronic component suppliers that offer services regarding a timely delivery or a guarantee. After all, the supplier’s ability to be punctual will reflect in the efficiency of your production. Experience often ties into the efficiency of the supplier as more experienced companies typically have developed a system that works. Additionally, experience depicts the supplier’s ability to adapt to a changing market.

Overall, the supplier with the most aggressive quality assurance systems, good reputation and years of experience is the best choice.

Electronic Component Distributors Can Help Your Production

As the technology market is becoming increasingly fast-paced, many forward-thinking manufacturers are hiring electronic component distributors to achieve optimal production. A reliable supplier should provide you with quality products for an affordable price in a timely manner. Even though you may feel pressed for time to hire a supplier, it is important that you thoroughly research your options before doing so. Below you will find some useful pointers on how to find the best distributor for your business.

One of the easiest ways to perform research is online. When performing your initial search, narrow down your options to the suppliers that specialize in your industry. This is an important step for several reasons. First, it will eliminate irrelevant suppliers and secondly, it will provide you with options of distributors that are knowledgeable about your industry. Knowledgeable distributors are able to provide you with the necessary support including predicting market trends for obsolete components.

Once you narrow down your options of electronic component distributors to those experienced in your industry, visit their individual websites and note the amount of years they have been in business. If a supplier has been in business for over a decade, it indicates that they have been able to adapt to the changing market trends throughout the years. This is an important skill you want your distributor to have as they will be able to advise you on changing market trends. Also, longevity can often indicate that supplier provides quality service.

One of the major threats to production today is the sale and use of counterfeit products throughout the supply chain. Therefore, it is imperative that the supplier you hire has a strict quality assurance program. If you cannot find sufficient information about a supplier’s quality assurance program on their website, contact them to find out their testing programs and whether they are on the Qualified Supplier List for Distributors (QSLD).

Affordability is another important element to research when choosing the best supplier for your company. However, remember that cheap doesn’t always mean better. In fact, if the distributor you are researching is selling components for far below the average price, it is important to further question their quality assurance program. A cheap counterfeit component today can cost you greatly tomorrow.

During your research of electronic component distributors, visit www.harrykrantz.com to see what makes them one of the leaders in the industry.

How Can An Electronic Component Distributor Help Improve Your Production?

An electronic component distributor is an individual or company that helps with the allocation and purchase of electronic parts.  Experienced distributors are able to help manufacturers facilitate the process of purchasing authentic components, even those that are hard to find or obsolete. Additionally, some distributors offer services that can further help improve the manufacturers’ production such as excess inventory consignment.

As various industries compete over more efficient products, the demand for faster electronic components is steadily increasing. This demand for quickly-changing innovation requires manufacturers to perform at top efficiency and to do so, many manufacturers decide to hire electronic component distributors. Trusted distributors should have a rigorous counterfeit prevention program, a large in-stock inventory, and ample experience in the industry.

The production of counterfeit components is one of the biggest frustrations for manufacturers. After all, utilizing a counterfeit component can negatively impact the safety and functionality of the finished product. Specifically, this creates a major threat to the military and aerospace industries, in which there is no room for error. Therefore, it is important to hire a distributor that offers the best in part authentication.

Choosing an electronic component distributor that has a large in-stock inventory can also help improve the manufacturer’s production. When a distributor has parts regularly utilized by the manufacturer in stock, it typically ensures a timely delivery of those parts. For instance, with over700,000 individual line items of electronic components and related products, stored in their ESD-protected facility, reputable distributor Harry Krantz Company can help the efficiency of their customer’s production.

For manufacturers in the military or aerospace industries, it is beneficial to find a specialized distributor that has ample experience in the field. This ensures that the distributor is knowledgeable in the field, follows and complies with all regulation specific to the industries and most importantly, can give the manufacturer proper advice on component acquisition. Harry Krantz, for instance, has over 70 years of experience serving manufacturers in various industries, with a specialization in military and aerospace. Their knowledge of the market and ability to adapt to its changes makes Harry Krantz an effective distributor capable of helping their customers by both allocating components and providing invaluable advice.

If you are looking for a reliable electronic component distributor that is experienced and offers an aggressive risk management program, visit www.harrykrantz.com

Getting The Most Out Of Your Excess Inventory Of Electronic Components

The rapid pace at which technology changes today creates the problem of excess inventory for many manufacturers. As certain components become obsolete or no longer necessary for production, they take up room in the manufacturer’s warehouse and create a loss of profit. Many manufacturers continue to keep these components or even finished products because they are not sure of when to sell, buy, or hold onto their stock. Furthermore, once they decide to sell, it can be difficult to find buyers, especially for components that are no longer wanted by majority of the manufacturers.

The issue of excess inventory can be resolved by hiring a knowledgeable electronic component distributor such as Harry Krantz Company. With over 70 years of experience in excess inventory consignment, Harry Krantz can offer their customers a reliable service and invaluable advice on when to sell, buy, or hold their inventory. Companies with time-proven experience are typically knowledgeable about the market trends and are able to adapt to changes. This ensures that your excess inventory is in expert hands.

Excess inventory consignment services allow the manufacturer to own their components until they are sold by the distributor. This is the safest way of selling components that you may need in the future. By utilizing the services of a trustworthy distributor, you are ensuring that you are getting fair market price for your parts and products. Furthermore, selling components is easier through a distributor as they take care of marketing your product and contacting their vast network of buyers to sell your components. Overall, they work to get your components sold fast and for a profit.

When researching your options for a distributor that can help you manage your excess inventory, be sure to check their compliance standards. This will help ensure that your reputation is protected and you are not faced with any legal issues in the future. To protect their customer’s business and reputation, Harry Krantz Company is updated on all of the relevant export regulations and holds ITAR registration.

Harry Krantz Company has utilized the successful combination of their ongoing marketing efforts and large network of reliable buyers to help turn excess inventory into profit for their customers. Their time-tested knowledge of the market allows them to confidently provide advice in the customer’s best interest.

Electronic Component Suppliers For Obsolete Components

The allocation and purchase of obsolete components is a frustrating and time-consuming process for most manufacturers. Obsolete components are electronic parts that are no longer produced by the original manufacturer. Difficult to find, many of these components are often duplicated, making them counterfeit and a threat to quality production. Testing obsolete components to ensure their authenticity can be costly to manufacturers and hinder their production. To solve this, many manufacturers hire electronic component suppliers.

The supplier will become partially responsible for the manufacturer’s efficiency, therefore when researching their options for suppliers, it is important for manufacturers to check the suppliers’ reputation, experience and quality assurance programs. This information can typically be found online on their personal websites. Besides checking the supplier’s website, it is also important to research third party sites to get unbiased information about the supplier. Reviews and testimonials provide great insight into the electronic component supplier’s reputation. This information can become a vital part of the manufacturer’s decision to hire the supplier.

Because counterfeit components present such an immense threat to quality production, it is imperative that the supplier the manufacturer hires has a rigorous counterfeit prevention program. Harry Krantz Company, one of the leading electronic component suppliers, complies with the highest standards in quality assurance. All of their inbound and outbound inventory is subject to a 30-point quality inspection checklist in accordance with the IDEA 1010 standard. In addition to their in-house testing, they also collaborate with outside qualified testing labs to ensure their customers receive quality components in a timely-manner.
Experience is another factor a manufacturer should consider when selecting their supplier. Companies that have been in business for over a decade have typically withstood various market changes and can often offer you invaluable advice on the purchase, sale and retention of components. Additionally, experienced suppliers normally have a network of reliable sellers. To ensure quality, Harry Krantz Company has a list of audited suppliers from which they purchase various components, including those that are obsolete.

With over 70 years of experience, Harry Krantz Company is one of the leading electronic component suppliers. Their experience and reputation have helped establish life-long relationships with many of their clients. Furthermore, their dedication to ensuring the quality of their components has allowed them to establish a network of reliable partners.

What One Can Do With Excess Inventory of Electronic Components

Many manufacturers understand that excess inventory can hinder their efficiency, and therefore, their profitability. However, some are not sure of when to buy, sell or hold onto their stock. In this case, a manufacturer can benefit from employing the services of a knowledgeable distributor. When choosing the best distributor for your purposes, it is important to consider their experience, knowledge of and compliance to government regulations, and their reputation.

It is important to choose a distributor that is experienced for several reasons. Companies that have been in business for decades are typically well-established businesses with the ability to adapt to the changing market. Therefore, it qualifies them to give you advise you on various aspects of managing excess inventory. For instance, Harry Krantz Company is a reputable distributor with over 70 years of experience in excess inventory consignment.  Therefore, they are able to advise manufacturers on whether they should buy, sell, or hold onto their components. Furthermore, they are able to provide them with valuable information about market changes.

Additionally, a distributor that has been in business for decades typically has an established network of reliable buyers. This translates into a faster and more consistent sale of your excess inventory.  
 
Due to the many firm standards and regulations set by the government regarding export and sales, it is important to find a distributor that complies with them all. This will ensure that your reputation is not hindered by any legal issues regarding the sale of your inventory through a distributor. Harry Krantz Company is updated on all of the relevant export regulations and holds ITAR registration, ensuring that the customer’s business and reputation is safeguarded.

Harry Krantz Company will turn excess inventory into profit for their customer with their enduring marketing efforts and the large network of buyers they have established over the past seven decades. Their time-tested knowledge of the market allows them to confidently provide advice in the customer’s best interest.

Besides offering excess inventory consignment services, Harry Krantz is a reputable electronic components supplier for a variety of industries including military and aerospace. Their quality control and counterfeit prevention programs are rigorous and thorough to ensure the authenticity and high quality of components which are then sold to the manufacturer.