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There is significant value behind giving our customers a heightened sense of confidence and market knowledge before going into negotiations. That’s why we developed SupplyLens™ Pro API, letting us connect with customers’ systems to transfer information faster, more securely, and more accurately. Too many companies are operating on multiple systems siloed from one another. This adds a level of complexity that prevents them from taking advantage of the full data sets and receive comprehensive market intelligence in a timely way. Companies are starting to respond to this by building their own analytics platform and hiring data analysts to drill down into
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In a previous post, we discussed how technology’s rate of adoption is getting increasingly shorter, and faster. For those companies remaining stagnant in legacy systems, the hustle needed to catch up to those businesses that have adopted innovative solutions more quickly becomes insurmountable. It also reveals several operational pain points. Focusing on business adoption enables organizations to leverage new technologies that optimize existing processes, uncover new revenue opportunities, and create better customer engagement. Much like the acceleration of everything, data is accelerating too. As industries grow and more products are created, companies will have more data. For every component being
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It’s not news that COVID-19 flipped the supply chain ecosystem on its head, revealing cracks in an industry ripe for disruption. The gap it caused between supply and demand made it hard to get an holistic overview of the market, as quality, supplier search, and price fluctuations were in disarray. Not to mention, the ‘acceleration of everything’ concept (discussed in a previous post) certainly didn’t spare the global supply chain from struggling to play catch-up with innovations that would get them back on track and close the gap. Technology is getting more powerful every year, which means adoption times are
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The world around us is changing fast, and the effect on the electronic Supply Chain is no exception. Companies that are winning today are not doing what their predecessors did 10 years ago. Given that things are moving faster, supply chain companies are in a race to ensure business processes allow for more efficiency in less time. In Acceleration of Everything, we’ll explore how to stay on top of market conditions and make better tactical and strategic decisions by adopting digital platforms that analyze real market data to increase bargaining power. The ‘acceleration of everything’ concept has captured my interest
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When I conceived of Spend Benchmark, I believed that profiling material’s spending against real market prices would be a valuable metric for companies buying electronic components. When we added the ability to identify and quantify actionable savings at the component level, this metric transformed into an invaluable tool for cost management. That was our belief. Over the years we have seen our tool applied across all market segments and, like all tools, the results are best in the hands of craftsmen. As we venture further into data science with AI and big data, we have been analysing our customers’ price
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With a tumultuous 2021 coming to a close, what are you doing to ensure you’re ready for 2022? Take a look at a few Supply Chain Learnings from 2021 and how to best prepare for the year ahead, whatever the electronic component market may bring.
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