There’s no denying the global electronics industry is facing all-out shortages. Supply chains have always been relatively volatile and susceptible to bottlenecks but the pandemic has created new challenges resulting in unexpectedly high demand coinciding with shortages. Product availability has created unprecedented scarcity which is some way from correcting.
Manufacturers have shifted their component procurement strategies to keep production lines running and meet market demands. In an environment where components are scarce and time is tight, manufacturers must build relationships with alternative distributors who have access to multiple supply routes.
The global supply chain shortage isn’t showing signs of letting up, as shortages and allocation cycles consistently appear on the horizon. New pandemic realities, like the delta variant, continue to throw wrinkles into the logistics world, further exacerbating manufacturing supply issues. To compete in the global supply chain war, inventory flexibility is a must—regardless of its conflict with just-in-time and lean manufacturing principles.
NewPower Worldwide is structured to offer the resources, expertise and people required to help manufacturers locate vital parts when conventional supply sources are dried up. The company uses Empower, a proprietary, data-driven sourcing technology which provides real-time insight into component availability. The technology provides access to billions of products, helping the company reliably find and deliver parts when required.
A dedicated team offers real-time quotes and assistance, 24/7, in 22 languages, with offices around the globe. When it comes to execution, no deal is too big. NewPower’s $150M committed credit facility underpins deals large or small, providing manufacturers with added security during times of market volatility.
Building a more flexible supply chain starts with manufacturers diversifying their supplier base, approaching multiple sources for their supply needs and using low-risk suppliers. Those who adapt will thrive now and in the future.