Issue link: https://iconnect007.uberflip.com/i/1475010
46 SMT007 MAGAZINE I AUGUST 2022 Stage 1: Search Wider is stage of supply chain disruption is char- acterized by components still being available in the marketplace, but not necessarily easy to locate. Maybe your most preferred suppliers no longer have the part, but a secondary sup- plier does, or maybe the supplier asks you to check back again later for updated lead times. Real-time API Integration It's important to access real-time, account- level data via application program interfaces (APIs). ese provide the ability to access stock availability, lead times, costs, and more by using your contract information. Access- ing real-time data allows you to gain knowl- edge about the details that matter in a precise moment while keeping you up to date on any sudden changes. Contact Off-line Suppliers Another best practice: Stay seamlessly con- nected to your supplier representatives who don't have API capabilities. As you rely more on a broader supply base, managing this pro- cess through email will not be easy. Look for shared digital workspaces where you can man- age communication between you and your suppliers so that both parties can stay orga- nized and collaborate more seamlessly. is creates clearer and more efficient communica- tion so you can focus on making the right deci- sions together. Stage 2: Execute Faster You've done the hard work of locating parts from a supplier, but by the time you send the purchase order, you learn the parts have been sold to someone else. You are now in the sec- ond stage of the supply chain disruption. It's not enough that you're scouring your supplier contacts for parts, because now everyone else is as well. You need to be first to place the order. at's why it is important to add speed, agility, and efficiency to your procurement process. Proactively Manage Risk With Your Customer A volatile supply chain market requires even more communication with your custom- ers to manage expectations and convey risks. During the quoting and purchasing process, keep your customers informed by flagging any materials at risk from limited availability, price increases, or if you are having to resort to alter- native sources to procure the necessary mate- rials. Push Notifications for Parts Sometimes getting the parts is about tim- ing your search to be right aer the inventory gets posted. Instead of tediously pinging your supplier for updated stock and price informa- tion, use automated searching services to cre- ate a watchlist of parts that alerts you. You can get an email notification whenever it is in stock and be in control of how frequently you want to check for the parts' availability. Automate Order Execution Once you've found the parts you want, it is important to place the order quickly and effi- ciently before they get purchased by someone else. It is key to API-based ordering, or effi- Chintan Sutaria