May 2024 Newsletter

Welcome to another edition of the Procurement Roundup – your newsletter for all things procurement and electronic components, brought to you by Lytica, the world’s only provider of electronic component spend analytics and risk intelligence using real customer data. 

How to Source Eco-Friendly Electronic Components

EPS News, May 29, 2024

Key Insights:

• Procurement professionals should understand how each step of the supply chain, including materials sourcing, manufacturing, and shipping, impacts the environment to strategize improvements in sustainability
• It’s crucial to review current suppliers’ practices and research new suppliers to compare their commitment to eco-friendly methods
• Investing in the development of eco-friendly technologies and staying informed about industry advancements can help procurement teams find greener components and improve overall supply chain sustainability

Chip Ban on Huawei Reignites China Tech Ambitions

EPS News, May 13, 2024

Key Insights: 

• The U.S. chip ban has intensified China’s efforts to develop its own semiconductor industry, as seen with Huawei’s new phones using domestically produced 7-nanometer chips​
• The ban highlights the growing tech and geopolitical competition between the U.S. and China, aiming to limit China’s advancements in critical technologies like AI and supercomputing​
• While the sanctions hurt Chinese tech firms, they may also drive innovation within China. Experts question the long-term effectiveness, noting that advanced manufacturing still relies on restricted technologies

Missed our recent announcements or market report? Stay up-to-date about the latest developments and exciting product updates from Lytica!

State of the Electronic Components Market

May 7, 2024

We analyzed over $450 billion in electronics spend in order to deliver curated insights into the electronic component market in April 2024. Highlights include:

• Electronic component pricing decreases by 1.45%, the third straight month of decreases in a row
• Lead times continue to drop, with the average lead time decreasing by 0.85% Month-to-Month
• Component availability remains at all time high, with 90% of all tracked electronic components available

Top 3 Business Process Improvement Initiatives for Procurement in 2024

May 2, 2024

What does your procurement team need to do in order to succeed in 2024? There’s no one simple answer. No matter the industry in which your organization focuses, procurement teams are facing levels of uncertainty that are constantly complicated by economic and geopolitical factors that can make it increasingly difficult to design strategies that guarantee you’re able to meet essential goals and benchmarks.

Ken Bradley of Lytica Wins 2024 Pros to Know Award

March 8, 2024

As a trailblazer and thought leader in the digital transformation of supply chains, Ken Bradley,  Lytica Chairman & Chief Strategy Officer, has been named one of the 2024 Pros to Know Award Supply & Demand Chain Executive winners. This Lifetime Achievement Award recognizes outstanding executives whose accomplishments offer a roadmap for other leaders leveraging the supply chain for competitive advantage.

Get ahead in the supply chain and electronic components realm with expert insights on industry trends and strategies to stand out from competitors.

• Tip #1— Analyze the Value of Your Components: Due to a lack of transparency in the market, businesses may unknowingly overspend on essential components. By retaining components that have significantly increased in cost over time, enterprises might not be getting the best value for their money. It’s crucial to assess whether the price paid for components aligns with their actual worth.
  
• Tip #2 — Implement Cost-Tracking with Software: Implementing cost-tracking software is essential for managing budgets effectively, especially when dealing with numerous manufacturers and suppliers. With advancements in technology, tracking expenses on individual components is now easier and more affordable than ever. Businesses can leverage AI and other solutions to gain a comprehensive understanding of their spending on components and ensure they are paying competitive prices.

Discover more about Lytica’s solutions or request a demo by

visiting our website!