Issue link: https://iconnect007.uberflip.com/i/1475010
AUGUST 2022 I SMT007 MAGAZINE 47 ciently updating your outstanding purchase orders. Place orders in real-time through APIs for instant order confirmation to secure your inventory. Link Your Quoting, Sourcing and Purchasing Processes Use automation from quoting to purchasing for your standard components to focus your time on strategy and exceptions rather than mundane transaction processing. In a time where you are already so busy, you should not waste time requoting everything again when it comes time to purchase. Instead, link your quoting and purchasing processes so that data is shared between the two and can be eas- ily updated based on current market condi- tions. Stage 3: Update Requirements If the parts you need aren't available any- where in the supply chain, no amount of search- ing and process efficiency will help. It's time to start looking at your purchasing requirements to see whether alternate parts will be accept- able. Having multiple sources for components on a BOM is a best practice during all supply chain climates, but it becomes crucial during advanced stage disruptions. Search for solu- tions to help you find and approve alternates so you can broaden your search criteria. Component Databases Several distributors offer suggestions for alternate parts, especially on passive com- ponents. ese, plus other component data- bases such as IHS, Z2Data, and Silicon Expert, can be helpful at creating alternative sourcing options on your BOM. Integrating these data sources into your core quoting and purchasing processes through their API options can add significant efficiency. Reference Your History If you have solved a sourcing problem in the past, then reference it again today. By having your quoting and purchasing activity properly organized in a database, you can look up alter- nate parts or vendors you have gone to previ- ously. CalcuQuote is compiling the next genera- tion solution for managing AVLs, part number aliases, and component search through a new product called PartCQ. rough an innova- tion in crowd-sourced data management and a heavy investment in machine learning exper- tise, we can take rough component descrip- tions and find corresponding part numbers, suggest alternates, and provide a confidence rating on whether two parts belong together. Stage 4: Collaborate is stage of supply chain disruption is the most taxing in terms of affecting manufactur- ing. At this stage, there is a deeper choke point in the supply chain that is having widespread impact across entire segments of compo- nents. Using alternate parts isn't always help- ful because the demand has outpaced the sup- ply for too long. At this point, it is time to col- laborate as an industry to solve the root causes and create a more resilient supply chain for the future. Peer-to-peer Component Trading Community ere are millions of dollars' worth of inven- tory with no active demand from within the warehouses of OEM and EMS companies right now. Many of those parts will never find a use again and will eventually be discarded. But some of those parts are on the shortage list of a buyer who is diligently checking with their suppliers to find it. With the price volatility of hard-to-find com- ponents, and with the help of IPC and var- ious OEM/EMS industry leaders, we have developed a solution to help connect buyers of OEM/EMS companies directly with the OEM/EMS companies who have the inven- tory sitting on their shelves. Over the course of a few months, hundreds of executives attended roundtable discussions