Ask any procurement team about the purchasing process, and they’ll probably describe a long, drawn out procedure that involves multiple spreadsheets or paper files, catalogues, price comparisons between vendors, problems with quality control and issues with communication across the company.
Reach out to a procurement team about how they source their component parts online, and they’ll tell you a completely different story. Streamlined procedures, straightforward price comparisons and millions of high-quality component parts at their fingertips. It’s hardly surprising that more OEMs than ever before are sourcing their component parts online. You’ll find a range of parts available here.
However, if your purchasing team is a little dubious about change, or perhaps they’re already convinced that their current way of procurement is the most practical, then it might be difficult to convince them to take advantage of online component purchasing. So, with this in mind, we’ve gathered some of the strongest reasons why more OEMs are sourcing their parts online – and why you should too.
Ease of Ordering
When you upload your BOM to an online marketplace such as Sourcengine, using their BOM tool you’ll be able to upload your entire Bill Of Materials within seconds. Alternatively, you can choose to search for specific components at a slower pace and with over 550 million parts available, you’re certain to find exactly what you need. So, rather than handing over specific parts of your BOM to individual suppliers, you’ll be able to upload the document in its entirety, saving your procurement team time and resources.
Once you’ve uploaded your BOM, the price comparisons already begin. By setting your chosen criteria, whether it be a specific price range, from a particular supplier, brand or delivery schedule, you’ll be able to find the parts you need that match the requirements of your production line – and all done within a couple of seconds. No more sifting through endless catalogues, switching from one site to another or calling multiple vendors trying to locate a component part, just everything you need in one place.
In addition to price comparisons, you’ll also have access to real-time data, which lists the latest data, deals and offers from over 3,000 vendors who sell the component parts you’re looking for on Sourcengine.
Your procurement team may entrust their BOM with vendors due to longevity and familiarity, even if the parts purchased are often plagued with problems and cause occasional issues along your assembly line. When you source parts online via a marketplace such as Sourcengine, you’ll have the protection of a 3-year warranty on all parts purchased, as well as peace of mind that every component part is tested, and meets all industry compliance and certifications.
And Finally, Competitive Edge
Streamlining your procurement process won’t make things easier for your purchasing teams, it will give your entire OEM enterprise a competitive edge. With faster sourcing and comprehensive supply chain management, you’ll be able to source, assemble and deliver on all your contracts, exceeding all the expectations of your clients and manufacturing partners. Consider sourcing your components online today.