The global component shortage has made it almost impossible for manufacturers to find the components they need on a timeline to meet their production demands. Sophisticated manufacturers have augmented many pre-pandemic policies and are now deploying more aggressive tactics to ensure success. One example is the turn to independent distribution for shortage mitigation and alternative component sourcing.
Pre-pandemic, sourcing components and scheduling production was typically a smooth process. With minimal supply chain disruptions, issues were few and far between and solved without panic or long-term effects. Manufacturers would look to independent distributors for alternative components when parts became scarce, but only when necessary.
Pandemic induced halts to production and labor shortages have caused existing supply chain costs to skyrocket. Shortages are commonplace as lead times extend, causing many to rely on alternative sources to find fairly priced components on acceptable lead times. Manufacturers must accept there are too many current supply chain issues to not be consistently searching for alternative parts. Engineers need deeper involvement as ‘business as usual’ no longer exists.
As an independent distributor, NewPower’s business model focusses on finding parts quickly. Perhaps more importantly, we excel at finding alternative parts, often last minute, when normal distribution channels fail. With no supplier allegiance, loyalty is focused on the manufacturer. We help manufacturers find alternative components that function similarly—or even exactly the same—quickly and efficiently, so production lines don’t stop.
NewPower’s proprietary sourcing platform, Empower, helps it globally locate quality parts in real-time, along with alternative solutions for unavailable parts, letting the company meet manufacturers’ time-sensitive demands without sacrificing quality, form or function. In some cases, NewPower can reduce costs and decrease lead times simply by sourcing alternative part numbers.