Generally speaking, the electronics supply industry has been experiencing something of a significant decline for the last several years. According a recent IHS iSuppli Industrial Electronics Market Tracker report, eight of the leading industry suppliers all suffered from declining revenues in 2012, for example. Despite the fact that total revenue for the top ten suppliers topped just over $12 billion dollars during the same period of time, only two of those top ten companies actually experienced any type of growth.
However, despite this news, things are not necessarily as bleak as they may seem. One of the keys to breaking free of an industry-wide decline involves not only understanding what put businesses there in the first place, but understanding the types of innovation that will lead them to soaring new heights well into the future.
Image source: pixabay.com
Contributing Factors
The factors that are contributing to a general decline in the electronics supply industry aren’t necessarily new. According to a report that was released by Electronics Purchasing Strategies in 2014, the supply chain challenges that businesses across the industry were facing fell into a number of important categories.
The globalization of the industry in general, particularly when it comes to the manufacturing of electronics parts, is one of the biggest supply chain challenges that businesses have faced in the last several years. The counterfeiting of electronics parts, a general failure to differentiate a company from its competition and the shorter product lifestyle of the electronics components that the industry relies on are all also listed in the report as significant challenges that the industry will need to overcome to break free of the decline of the last several years.
A Positive Outlook
The general need for electronics components is not going anywhere, particularly as technology becomes a more important part of our lives with each passing day. As a result, companies that work with and produce these electronics parts are in an excellent position to weather the decline of the next few years and to experience the type of growth that will allow them to thrive well into the future – provided that they’re willing to rise up and meet these challenges head on.
Electronics Purchasing Strategies indicates that higher productivity with regards to the types of electronics components that are being created is one of the best ways to overcome decline-related challenges, for example, as are forecasts relating to the general positive outlook of the global economy in general.
Suppliers Shift
One example of a company that is stepping up to provide unique solutions to the challenges that the industry now faces is Verical. Launched in 2009, Verical.com is an online marketplace that introduced a pedigree scoring system to help fight the types of major risks that threaten high tech supply chains all over the world on a daily basis.
Counterfeiting in particular is a threat that has escalated in the last few years as the methods that individuals use to create “fake” electronics components have become increasingly sophisticated. On the one hand, the counterfeiting situation is rife with irony – the same technological advancements that electronics supply companies used to remain competitive for years is now being utilized by those with malicious intentions to undermine the marketplace in general.
Verical.com acts as a solution that brings maximum visibility to an industry that needs it now more than ever. Thanks to the pedigree scoring system, Verical is addressing the challenges of the secondary market head on by providing insight into the true source of electronics components, the warranty of these parts, the general authenticity and more. This allows customers to better understand what a particular part really is, what it does and what a fair price in today’s climate for that item would really be.
In redefining what the electronics supply secondary market really is, the Verical Marketplace is in an optimum position to act as a true extension of the primary market itself. Verical.com acts as a trusted source of both information and traceability, allowing electronics components to retain their true value and empowering business leaders with the information they need to be confident in purchases and to make sound decisions well into the future.
from Darlene Milligan http://ift.tt/1FFIdT6 via Digital marketing consultants London
from Tumblr http://ift.tt/1JY6Mhk
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