Obsolescence Management Before It Becomes A Problem
Like the device you are reading this on, all electronic components become obsolete eventually. As a supply chain manager, it is your job to manage obsolescence and make sure it doesn’t become a problem for your company.
The three reasons for electronic component obsolescence are short product life cycles, innovation, and increased demand.
Short product life cycles fuel update cycles that demand better components, innovation fuels new component releases, and increased demand squeezes supply chains, creating new batches of components that replace the old.
The good news is obsolescence management isn’t rocket science. With planning, you can safeguard your supply chain from the inevitable. Cyclops can help you do this in various ways, working with you to keep your supply chains moving.
How Cyclops helps you manage obsolescence
With technologies advancing rapidly, the rate of electronic component obsolescence is picking up pace. Life cycles are getting shorter for many components, and shortages are challenging obsolescence management plans.
At Cyclops Electronics, we specialise in the procurement of electronic components, working with global distributors to source tens of millions of parts. Our staff go further than most to find your obsolete parts, and if we can’t source the exact parts you need, we will work just as hard to find appropriate alternatives.
Here’s how we help you manage obsolescence:
We keep tabs on component supplies for you and provide timely reports detailing risks. By keeping you in the loop, you get a bird’s eye view of your electronic components, giving you a competitive edge and greater buying power.
Obsolete component sourcing
Obsolete components might no longer be made, but we hold 177,232 line items in our warehouse and 14 million parts globally. There’s a strong possibility we have the obsolete, discontinued components you need ready to go.
When obsolete components are unavailable, we can specify equivalents that meet your performance and financial specifications. We can cross-reference many components, such as semiconductors, to find exact equivalents.
We can help you identify and mitigate risk when parts and spares become obsolete by integrating with your mitigation plan. We can replace obsolete parts as they age, providing an automated, streamlined obsolescence solution.
Obsolescence is inevitable but manageable
Component obsolescence occurs when an old component is phased out. Without management, this event can disrupt a supply chain, costing businesses tens of millions (or billions) in lost revenues and corporate costs.
A great example of this is any company that manufactures equipment and supports it over several years, like a boiler company. Electric boilers are supported for around ten years, so the components have to be replaceable over that time.
Obsolescence is a problem because it sends ripples through the supply chain, requiring ongoing management to foresee events and mitigate risks. Cyclops Excess has seen all this before across all sectors.
Speak with us about obsolescence management
We’re here to help you manage supply chain risks and deal with obsolescence before it becomes a problem. Contact us here.
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