Electronic component procurement cost reduction program

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In today’s electronics industry, companies face a common challenge. The main task is to reduce manufacturing costs without sacrificing product quality. Indeed, creating profitable products in our digital age is by no means an easy task. The only way to mitigate the difficulties is to delve into the specific steps of the process and use proven strategies to reduce overall costs.

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Let's consider some of the key methods and recommendations that help companies save time and money. The following details electronics manufacturing: cost-saving strategies.

Keep it simple: don't over-design.

It is in a company's best interest to design products that are as close as possible to user needs. The biggest enemy of product quality is too much quality - trying to include too many features. Remember, the value of a product's features is more important than the number of features it has. If this is a brand new device or a new innovation for a startup, try to keep it simple to save time and money.

In the electronics industry, an increase in the number of features not only complicates the design, but also increases manufacturing costs. Often, more features equal more component costs. Therefore, fewer features usually mean fewer components and a more affordable bill of materials. Not all required features will result in a more complex PCB, but keep this factor in mind as you complete your project design.

Reconsider your component selection

The total cost associated with your component selection can be flexibly accrued without prior consideration and planning. You must select the product components that serve their specific functions. However, before making your final selection, consider alternatives that can save you money on purchasing costs. A common strategy is to use synonymous solutions for the corresponding requirements.

Which components can provide the same solution for the same task? Can you replace different components to use more of the same circuit parts in your product? When sourcing materials from suppliers, adhering to uniform dimensions, tolerances, and functionality can reduce spend.

Work with an experienced manufacturer

Partnering with experienced companies is one of the cost-saving strategies for electronics manufacturing. These specialized manufacturers understand the best ways to reduce manufacturing costs. Contract manufacturers can use their advanced equipment to improve the efficiency of your product.

Work with them to achieve your ultimate goal. If you outsource PCB assembly, you can rest easy because these contract services will deliver a successful project without going over budget. Time is money, and these strategies are smart investments that can benefit your business in the long run.

Long-term partnerships with the best manufacturers in the world.

Our delivery and quality performance is outstanding!

We have a global system that allows us to deliver the portfolio of services you want, anywhere in the world.

Manufacturing companies are constantly looking to reduce costs to remain competitive in a challenging business environment. Our cost reduction programs can help you achieve this goal. Whether your cost reduction motivation is an important part of your ongoing business process or a specific short-term Six Sigma project, we can work with you to achieve outstanding results.

Quick wins, first 10 increments
If you send us your BOM, we can compare your pricing and demand patterns to those of your competitors. This allows us to generate a list of the top 10 parts that you are most likely to save money on. This is a free service and there is no obligation to purchase from us. All we ask in return is the opportunity to send you quotes from time to time that match your usage profile and can result in significant savings for your company.

All you need to do is send us your BOM and you will receive.

Free analysis highlighting immediate savings opportunities.

Timely alerts on high quality, fully traceable buying opportunities from our OEM and EMS partners. Average savings of about 30%.

If your purchase price is competitive, we can provide you with a profitable (PPV) opportunity by buying from you and selling to our other BOM matching customers.
Each manufacturing company has a BOM that they send to their distributors, all you need to do is send us the same document and we will do the rest. We will analyze your BOM and create a free report for you that compares your pricing to that of over 1,000 other electronics manufacturing companies and franchised distributors worldwide.

How does this work?
Our BOM matching tool is designed to create high quality connections. We currently manage excess inventory for some of the world's largest original equipment manufacturers (OEMs) and electronics manufacturing services (EMS) companies, and have unique insight into purchase price differences within the marketplace. It can be surprising how many discounts these high-volume users receive on everyday commodity components. We can often offer you up to 30% off the current purchase price.

Simply, if you share your BOM with us in the same way as your current distribution channel, we can monitor your BOM and all the part numbers within it. By comparing your prices to those of Tier 1 manufacturing companies, we can bring you guaranteed cost savings without sacrificing quality.

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