Business

Sensible Ways for Business Owners to Manage Component Ordering

2 Mins read
  • Your company's supply chain success hinges on having the right component ordering process.

There are a lot of issues that you need to consider when you are running a business. You have to build solid relationships with your customers. However, it is equally important to build strong relationships with suppliers as well.

You need to make sure that you choose the right companies to order components from. The quality of products and services that you provide is going to be heavily dependent on the them.

This means that entrepreneurs need to come up with the right procurement process for new components. If your procurement process is plagued with mistakes, expensive errors and miscommunications, then it’s time for a change. This could cause real problems for your business’s supply chain. Acquiring the right goods in the right quantities and at the right time is crucial for keeping your business thriving. Here we’ll explore some sensible ways to stay in control of your component ordering process.

Identify the parts that are required

Whether you need a replacement part for a machine that has faltered on your production line or you need this data bus transceiver as part of the manufacturing process, identifying which parts you need, across all areas of your business, and them categorizing them together in your BOM will help keep you in control of your ordering process from the very start. This is also a good opportunity to highlight where you can potentially save time and money in terms of bulk buying and identifying the forthcoming cost to your business.

Upload your BOM

You may have been working with several suppliers across numerous platforms up until now. However, if you want to stay in control of your component ordering process, monitor the costs and potentially save your business some money, then you need to upload your BOM to Sourcengine.com and utilise their BOM tool. With just a few clicks you can have your entire BOM online and be ready to source the parts you need for your business.

Set your criteria

Being able to maintain control of your costs during the procurement process isn’t easy, however when you use a global, online marketplace like Sourcengine.com you can set your component part criteria to match your pricing requirements and also highlight any deals or discounts you may want to take advantage of. This simple step means you no longer have to waste time negotiating contracts and prices with potential vendors, you simply find the parts you want that meet your criteria and place an order.

Don’t waste time evaluating potential suppliers

When you’re working with numerous suppliers, it’s not always easy to know if you’re making the right choice. Often, the urgency that comes with the procurement process means you may overlook certain issues to get the parts you need as quickly as possible. Thankfully, when you streamline the process and take back control by using Sourcengine.com, you can order the parts you need quickly, safe in the knowledge that all 3,000 vendors have been fully vetted and selected due to their reliability and high-quality practices.

Be error free

When you upload your BOM, you can reduce the likelihood of costly mistakes during the ordering process. Whether you need to order an individual part or order thousands, by moving your procurement process online you can shop for one part at a time or order multiples with ease. Keeping your costs low and maintaining order within your procurement process.

And finally, keep communications open

Knowing which parts have been ordered and when orders are expected to arrive is essential. But you also need to filter this information down to your other departments, eliminating the risk of duplicate orders or expensive mistakes. By downloading your results on Sourcengine.com you can easily share your orders with relevant teams and managers.

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About author
Alex Membrillo is the CEO of Cardinal, a digital marketing agency focused on growing multi location companies. He has recently been recognized as part of the 2018 Top 40 Under 40 list by Georgia State University.
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