Last Updated on October 24, 2023 by Kevin Chen
Sourcing the best electronic components is one of the key elements that will ensure you build quality products. The right electronic parts will ensure that you come out with functional products that will be used by users.
As simple as it looks, most manufacturers tend to go wrong when it comes to electronics sourcing. The sourcing process should be handled with utmost care to ensure that you get high-quality electronic components.
In this guide, we are going to give you surefire tips for sourcing electronic components in 2021 and beyond.
What does sourcing for electronic components mean?
Sourcing for electronics parts means you’re looking for quality electronic parts to use in one of your products. Sourcing agents source electronic parts on behalf of their clients and help them find the best supplier at the lowest price needed to manufacture a product.
Companies that don’t outsource sourcing services usually store data about suppliers in separate files or spreadsheets, which can be difficult to check and retrieve information from.
How difficult is sourcing electronic components?
Sourcing electronic components is a time-consuming and challenging process. If you’re sourcing electronic parts and don’t know what you’re doing, it’s recommended that you use a sourcing service provider or sourcing agent since they have all of the data about suppliers stored in one place so sourcing becomes much easier.
All sourcing agents have different sourcing requirements that must be met before they will provide sourcing services.
Who are the main players in electronic component sourcing?
Electronic sourcing has several different parties involved. These are the main players in electronic sourcing:
– Sourcing agent (oversees sourcing process)
– Sourcing manager (approves sourcing project)
– Supplier information management system (manages supplier contact data)
– Electronic part sourcing company (provides sourcing services for electronic components)
– Suppliers/vendors (sell electronic components)
– Purchasing agent (receives parts from suppliers into inventory)
Who is sourcing for electronic components?
Electronic sourcing agents source electronic components for many different companies and industries. Some of the most common types of businesses sourcing electronic parts are:
– Electronics manufacturing
– IoT (Internet of Things)
– Medical devices
– Automotive electronics
– Aerospace and defense (military)
– Consumer electronics.
As long as the product that you are building will entail the use of electronics then you will have to source quality electronic parts. A sourcing agent will solve this problem for you.
What are sourcing standards?
Electronic sourcing has many sourcing standards. The main sourcing standards for electronic sourcing are IPC-A-610 and IPC J STD 001. Both of these standards help define how electronic components should be sourced and incorporated into a product.
IPC-A-610 contains criteria for the sourcing, purchasing, inspection, installation, and quality assurance of electronic parts.
It is used by many electronic part sourcing companies to standardize their sourcing processes. The latest version of IPC-A-610 was published in 2015.
What is IPC J-STD-001?
IPC J-STD 001 is another important document used in electronic sourcing. This standard defines how electronic components should be sourced and tested for their quality before being incorporated into a product. The fourth edition of IPC J STD 001 was published in 2015.
Most companies use the third edition (published in 2012) because it’s easier to understand.
However, some companies still use earlier versions since most electronic parts suppliers cater towards older versions anyway. It’s recommended that you update your sourcing process if you’re sourcing electronic components according to the newest standard, which is the fourth edition.
Define your electronic component needs
It all starts by knowing the electronic components that you need. This means that you have to do a thorough analysis of the products you are going to make. This will give you a clear picture of the electronic parts sourcing needs.
It is also important to understand the plans for your company and how they fit into the sourcing plan. A good example is if you plan on sourcing several hundred units every month, you need to understand the sales forecasts and sourcing strategies.
Defining your needs starts by understanding your electronic components sourcing needs.
A sourcing plan for electronics
The next important thing is to come up with a sourcing plan that will help you get quality electronic parts at the right time and in the right quantity. This means always having a good supply of electronic components whenever there is a need, irrespective of seasonality.
The sourcing plan should be dynamic as the electronic components sourcing needs may change from time to time. This means you always have to update your sourcing plans as new technologies emerge and products become obsolete.
Sourcing strategies for electronic parts
There are different sourcing strategies that can help you source high-quality electronic parts for various applications. These sourcing strategies should be known to sourcing experts, especially when sourcing electronic components for new products.
An Electronic parts sourcing strategy is the key element that will ensure you get quality electronic parts within budget. You can learn more about sourcing strategies by contacting experts in sourcing electronic parts.
Quality control and supplier evaluations
Quality control should never be ignored when sourcing electronic parts. This means sourcing quality electronic parts from reputable suppliers who have a track record of supplying quality electronic components.
The supplier evaluations will also help you identify those who can be trusted with your business and those who may jeopardize your business by sourcing low-quality electronic components.
Component sourcing trends in 2022 and beyond
There will always be new electronic components that will emerge with changing technology. The sourcing trends for each component should be known to sourcing experts to ensure you source quality electronic parts at the right time and in the right quantities.
The sourcing team also needs to understand how various emerging technologies can influence sourcing strategies including supply chains, product assembly, and others.
Start sourcing early
While sourcing electronic components, time is key. You should start sourcing early to minimize the lead times for sourcing electronic parts. This means having stock of all common components for your products so you can always meet customer short deadlines.
Sourcing early will also mean that you have ample time to build rapport with potential suppliers and negotiate better rates and payment terms.
Beware of counterfeit electronic components
This is especially important when sourcing electronic components from China or any emerging economy. Make sure that the sourcing and quality teams work closely with the sourcing agents and sourcing managers to ensure there are no counterfeit electronic components at any stage of your supply chain.
There are many dangers that come with using counterfeit electronic components, including not meeting quality standards and compromising on safety.
They may end up affecting the quality of your products. It is therefore very important to understand sourcing trends for electronic components and stay ahead of the curve.
The good news there are several techniques of separating genuine electronic components from fake ones. These techniques can be learned by sourcing experts.
One way of avoiding counterfeit components is by sourcing from reputable electronic parts manufacturers and suppliers. This will usually ensure that you are sourcing high-quality electronic parts.
Sourcing agents are experts when it comes to separating genuine products from counterfeits.
Source management software for sourcing electronic parts
It is important to use sourcing tools that will help automate sourcing tasks including inventory management, supplier evaluations, and purchase orders processing.
These sourcing tools may include E-sourcing software which can help you source high-quality electronic parts within budget.
The sourcing software can help you get quality electronic parts for your products. These sourcing experts are usually very familiar with sourcing trends for various electronic components and will always stay ahead of the curve when it comes to sourcing strategies for electronic components.
What are sourcing tools?
Sourcing tools are used to help find suppliers of electronic parts. These sourcing tools include sourcing service providers, sourcing management software, etc. If you’re not an expert in sourcing electronic components, it’s recommended that you use a sourcing tool to help with the sourcing process.
Finding suppliers is time-consuming and difficult unless you have all of the data about suppliers stored in one place. Furthermore, many electronics parts aren’t always available for sale because they were made before 2004 or so when most companies got rid of their excess inventory.
This means that sometimes sourcing agents have to call several different sources until they find the part they need, which could take hours or days.
Evaluate sourcing agents and risks involved
Understanding sourcing risks is very important when sourcing electronic components from unfamiliar markets or new suppliers. This means that it is good to identify the best sourcing agents who will help you meet your sourcing targets within budget.
You should conduct periodic evaluations on sourcing agents so as to minimize the sourcing risks and sourcing costs.
Electronic components online sourcing
Sourcing electronic components online are one of the most efficient ways to source. This is because you can identify suppliers more easily and they are also able to conduct real-time sourcing which reduces sourcing costs.
You should therefore consider sourcing electronic parts online to access a larger pool of electronic components suppliers. Sourcing through an e-commerce platform will also ensure that sourcing tasks are handled faster.
You will also spend less time sourcing electronic parts since you will not have to find and negotiate with suppliers.
However, sourcing through an e-commerce platform may mean that you miss out on sourcing larger quantities. It is therefore advisable to use any of the above three sources depending on your sourcing needs.
Quality electronic parts for the sourcing process
It is very important to ensure that all electronic components meet quality standards before sourcing them. This means that sourcing managers should ensure sourcing standards are met.
For sourcing electronic components your sourcing and quality teams must work closely to meet sourcing and quality standards and save extra cost on resources.
How do sourcing service providers work?
As mentioned earlier, sourcing service providers are used to help source electronic components. They can help sourcing agents source components which saves time and money.
Sourcing service providers also manage all of the data about suppliers so sourcing can be done quickly with less effort. Many sourcing companies only provide sourcing management software (software for sourcing) instead of sourcing services.
This is because they understand that some companies may need more than just software for sourcing an electronic part. Sourcing management software is very helpful in reducing errors during the sourcing process since everything is stored in one place where it’s easily accessed by many different people (e.g., engineers).
Sourcing service pricing varies depending on how much you’re outsourcing and what kind of sourcing services you would like the sourcing company to provide for you.
Electronic parts search engine
Manufacturers can list their electronic parts on sourcing websites so sourcing agents and sourcing service providers find it easier to source for electronic components.
Many different types of companies offer electronic parts search engine services, but usually, the prices are based on how many products you want to be listed or how many times your product will show up in search results.
Choosing the right electronic parts sourcing Service Company
Choosing between sourcing service providers can be a difficult task, but there are some criteria to follow when looking for a sourcing agent. The first question you should ask yourself is what kind of sourcing service you would like to use.
There’s sourcing management software that will help manage your electronic part sourcing process and also sourcing agents that will do sourcing work for you without any extra charges (this usually costs more money).
The next step is choosing between manual or automatic searching. Automatic searches produce results much faster than manual searches do, but they aren’t as accurate as manual searches since it takes time and effort to find exactly what the sourcing agent needs manually.
Best practices for electronic parts sourcing
Using this article as a guidebook for sourcing electronic parts will help sourcing agents save time and money. By sourcing electronic parts according to the latest standard, sourcing agents can produce products that have higher quality and better performance.
ICRFQ.com: Reliable electronic component sourcing services in China
At ICRFQ.com, we offer sourcing services. We have sourcing agents who know where to look for electronic parts so sourcing work can be done quickly and accurately.
At ICRFQ.com, sourcing services and sourcing management software are offered so companies outsourcing sourcing work don’t have to worry about sourcing mistakes.
For more information, please contact us at: [email protected] or visit our website.
If you want to find more Electronic Components Distributors, please check out the following articles:
Electronic Components Distributors In the USA
Electronic Components Distributors In UK
Electronic Components Distributors In China
Electronic Components Distributors In India
Electronic Components Distributors In Singapore
Electronic Components Distributors In Malaysia
Electronic Components Distributors In Vietnam
Electronic Components Distributors In South Korea
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