Part Two of this series will explore some of Sourcengine’s powerful features and tools, which are designed to streamline multiple supply chain processes and increase efficiency in daily functions for electronic components professionals. And make sure to stay tuned for part three of this series as we discuss one of our most sought after and exciting features, Sourcengine’s supply chain management operating system.
Now, let’s deep dive into Sourcengine as an e-commerce marketplace.
Multifunctional E-commerce Marketplace
Sourcengine is a dynamic e-commerce marketplace which offers an unparalleled buying and selling platform for the electronic components industry. A wide array of industry professionals can benefit from the platform’s multi-functional design, including sourcing professionals, distributors, component manufacturers, engineers and designers, as well as academics and researchers.
Meeting ever-changing requirements in the volatile components supply chain drives a need for buyers to always find the best pricing and availability. Furthermore, mitigating the impacts of shortages on lead times and production schedules means it is critical for sellers to be able to offer their catalog to the global components marketplace as fast as possible.
Fortunately, Sourcengine provides streamlined buying and selling solutions in a single, multi-functional digital ecosystem. Sourcing projects from trusted global vendors and meeting critical deadlines are just a click away when using a combination of Sourcengine’s powerful tools.
Intuitive Search and Comprehensive Database
Finding the right components and quickest lead times has never been easier with Sourcengine’s intuitive, robust search feature. Buyers can search for up to 25 items at a time and filter a search by lifecycle status, manufacturer, and RoHS compliancy.
Plus, the massive global database boasts 500M unique parts which are ready for browsing, buying, and shipping anytime, anywhere. Free data sheets and technical specs are also available for each item.
Making E-procurement Easier
Sourcengine puts a powerful suite of e-procurement tools right at your fingertips with its built-in Sourcegrid, BOM management tools, and industry-first Real Time Excess Estimator. A breakdown of each follows.
Sourcegrid is a visual tool which presents all global offers for a given part in one place. Price is balanced against lead time, which ultimately yields a best offer for each item. Price breaks for buying larger quantities of an item are also displayed and clicking on “Best Offer” for a specific item quickly adds it to your cart.
Furthermore, meeting rigid supply chain demands is easier because deliveries can be scheduled for individual items, allowing for just-in-time shipping. Plus, large orders can be split into multiple shipments, internal part numbers and PO numbers can be added to items, and carts can easily be saved for future orders.
If you’re under pressure to get a BOM sourced with the best possible bottom line, Sourcengine can simplify the process. Just upload an Excel spreadsheet in the BOM management tool and Sourcengine instantly presents best offers for each of your line items (up to 10,000 line items at a time).
Results can be filtered by best offer, lowest price, or fastest delivery. You can also view the Sourcegrid for any part on your BOM and choose an offer from the full offers list before adding it to the cart. If pricing and lead times meet your needs, an order can be executed with a simple click.
Real-time Excess Estimator
Sourcengine can help clear out extra stock and possibly pass it down the supply chain with the first-ever, Real-Time Excess Estimator. Simply upload an excess parts list and the groundbreaking tool calculates the resale value of the items in a snap. If the price looks good, contact your account manager to discuss an offer.
Trusted Sources and Stress-Free Shipments
Placing overseas orders in a rapidly-shifting supply chain can often be a stressful, complex process. All sorts of complications can arise including customs bottlenecks, import/export regulation changes, paperwork errors, and the worst-case scenario: lost or misdirected shipments.
Sourcengine helps alleviate global ordering and shipping stress in a couple of important ways. First, all parts found on Sourcengine are sourced globally from traceable sources and the platform’s automated vendor ranking system helps ensure quality parts and timely shipments. This means orders can be placed with confidence.
Next, Sourceability’s robust global logistics team can potentially eliminate multiple frustrations associated with processing and tracking global shipments. You can buy from multiple vendors in a single transaction on Sourcengine, and global shipments will be monitored by a logistics team member from start to finish. They will also handle any shipment issues which may arise.
Overall, this creates a hassle-free buying experience which also assures you’ll receive the parts you ordered, on time.
Selling on Sourcengine
The global electronics supply chain is also a fast-paced, competitive market for suppliers. By joining the Sourcengine marketplace, sellers can increase their global footprint and grow their customer base without lengthy on-boarding and contract negotiations.
Leveraging Sourcengine’s expansive sales network is simple. Product lists can be emailed or uploaded to the database, or suppliers can connect with Sourcengine via ERP integration.
Once loaded, product lists are instantly available to thousands of customers across Sourcengine’s global electronic components marketplace.
All offers are anonymous. Therefore, customers can see prices, packaging, and lead times on available products, but supplier identities are never revealed.
Orders are transmitted to suppliers immediately upon receipt and Sourceability’s traditional order process is followed from there.
Once again, global shipping stress is avoided as suppliers only ship orders to the company’s regional warehouse. Sourceability’s large global logistics network handles the rest of the international shipping process, including dealing with any duties, taxes, import or export forms as well as mitigating any shipping issues.
Finally, Sourcengine provides a variety of custom integration solutions. Use Sourcengine.com and integrate with your ERP. Direct links between ERP systems enables seamless workflows across your organization.
Overall, Sourcengine provides many powerful solutions in today’s demanding global components marketplace. In our next installment of this series, we will discuss one of Sourcengine’s most exciting forthcoming features: its supply chain management operating system.
In the meantime, visit Sourcengine.com to see how this platform can best meet your needs.