27 Apr 2023 -
 General

Four tactics OEMs need for planning component purchases

After reaching a peak in 2022, the semiconductor industry is now settling down.

According to Supply & Demand Executives, buyers in high-reliability industries are beginning to ask if now is the time to stockpile components for future periods of instability.

Chip manufacturers are attempting to scale the production of new technology types, but OEMs must create strategies for long-term planning to reduce risks and manage unanticipated semiconductor supply chain disruptions.

For OEMs to strengthen their position in the market, there are four key data-driven tactics to ensure they get their long-term planning right:

Demand Forecasting – Utilize both qualitative and quantitative methods to determine historical trends, as well as implementing current market opinions and insights.

Strategic Inventory Purchasing Planning —By combining a comprehensive view of historical purchasing data and forecasted components, organisations can better respond to current and future market needs. This mitigates the risks of future disruptions.

Real-Time Inventory Insights — Inventory is constantly shifting with demand, so it is essential to utilize the most up-to-date information. Without this tactic, organizations can run the risk of customers placing orders for items that have since gone out of stock.

Setting Accurate Reorder Points — With insight into previous unit demand, organizations can choose the most likely points at which they will need to reorder. It also allows them to analyze lead times for production and warehouse receiving to stay aware of historical and current timelines for receiving.

To avoid electronics supply-chain disruptions, you may also wish to consult an expert in electronics component supply. With more than three decades of supply-chain expertise, Astute Electronics is ideally placed to work with you on your daily component requirements.

For more help with looking at supply chain options, contact Astute Electronics

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