The Effect of the pandemic on the Electronic Component Industry
Director of Sales
From Problem to Solution
This past year continues to challange the Global Component Market as the world copes with the Covid-19 pandemic which tests supply chain resilience, a process that leads to shortage in the Electronic Component Industry.
Finding the best Electronic Component Distributor & Sourcing Experts is cruicial for these challenging times.
This Global situation brings many manufacturers to a massive decrease in production & supply due to the lockdown and lack of workforce. Only recently, the Wall Street Journal has published an article on the imbalance of the supply chain around the world, when on the other hand, projects on any scale are still in progress for companies who are planning and transforming concepts into ideas, turning design into development.
On the other hand, the customers are facing an ongoing struggle with many additional issues such as longer lead time, supply/demand imbalances, unavailability of components as per requirements, logistics, trade, suppliers who take advantage of this situation and raise prices, Increase in counterfeit components.
Even though we are looking into a new bright Covid-Free Future, there are many struggles yet to overcome, many obstacles which hold us back, and with increased complexity comes greater risk for resilience when recalculation of our steps and precautions needed to be taken into consideration which can resolve many or all of these issues in such difficult times.
A trusty partner in your journey is the key. Someone who listens to all your needs and finds the best solutions possible in the shortest time possible. When the right Electronic Distribution Agency represents the top manufacturers in the Electronic Components industry with the complete wraparound service of outsourcing and supply, this struggle is made easier to overcome.
Some of the main solutions are within the primary standards long after the current pandemic subsides.
- A shortage in Components- Many companies face difficulties in the completion of projects due to a shortage in some of the components requires for the completion of the project. This is the time to contact the experts who can assist with this challenge.
- A longer Lead Time – This could lead to delays in the completion of projects, fines paid by design companies to final end customer. When the distribution agency takes the project from inquiry to the final stage and top manufacturers, shortening the lead time to the maximum.
- Unavailability of Components in the market- Availability is one of the most important aspects that need to be addressed as a part of the overall support given on any project at any time.
- High prices call for new actions- As companies go into the stage of planning their projects, it is crucial that they power up with a company that is approved with the highest standards and certificates and can also be available to find, deliver and support the project using the top approved components in many segments of technology.
What insights might you have on this issue? we would like to hear your thoughts.
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