She explains, “The great news is that you don’t have to have a complex supply chain solution to take advantage of TTI’s expertise and value added services. Even for smaller accounts, TTI can go well beyond serving as only a distributor of electronic components and can provide actionable insight and supply chain data that will help customers create efficiencies and reduce costs.”
Given that pricing in the industry is currently very tight, there isn’t much any distributor can do from a component-pricing standpoint, but that doesn’t mean a customer can’t lower its Total Cost of Ownership (TCO). By identifying specific opportunities within their processes where costs can be reduced, such as purchase order consolidation, shipping lot sizing, optimizing inventory spacing and turns, or amalgamating payables, the assessment phase of developing a supply chain program can uncover areas for significant savings. As Bova says, “Much like a doctor will fully evaluate a patient, develop a diagnosis and prescribe the right medication, TTI prescribes only the solutions that are a right fit for the customer.”
Customers that want to test supply chain solutions by starting out small have the complete flexibility to do so. They may choose to implement forecasting and inventory management on just a few components on their BOM to test the effectiveness of the tools. This process then becomes an ongoing testing and evaluation of the program, and refinement of individual areas where efficiencies, savings and improvements can be made.
A quality supply chain program needs to have qualified personnel evaluating the system on a consistent basis. Fortunately, there are certification programs such as the Certified Supply Chain Professional (CSCP) and Certificate in Production and Inventory Management (CPIM) offered by The Association for Operations Management (APICS); and the Certified Professional in Supply Management (CPSM) from the Institute for Supply Management (ISM). Look for these certifications when evaluating your supply chain partners.
“TTI believes in the power of knowledge transfer.” Bova says, “Our supply chain specialists are happy to work with customers to share what we’ve learned in our decades of building effective supply chain solutions. In fact, many customers that benefit from this expertise report that they extend that knowledge to other vendors to optimize other aspects of their supply chain.”
Can a supply chain program deliver benefits for your organization? Bova believes so, “Regardless of size, ability to generate forecast data and purchasing process, customers should look to TTI to offer solutions right-sized and built just for them.”
Getting started with a supply chain evaluation program doesn’t have to be a daunting task – it can be as simple as finding an experienced distributor partner and sharing the amount of forecasting data you are comfortable with. After that, a good program is designed to give you clear results showing savings, performance and opportunities for improvement every month.
A version of this article appears in Electronics Sourcing North America, www.electronics-sourcing.com/north-america.