Electronics manufacturers such as Entech Electronics have had to beef up their supply chain and purchasing teams to meet the challenges of a global shortage of electronic components. Yaser Darban explains what companies can do to weather the shortage.
As the world recovers from a pandemic, another threat looms for manufacturers – a global shortage of components. So when companies like Apple say that a chip shortage can cause a loss of $3 billion to $4 billion, it makes us wonder how even industry leaders didn’t foresee it.
The global chip shortage didn’t come without its warnings, which many industry leaders failed to heed.
Preparing for global component shortages. Photo: Entech ElectronicsProjections say that the global chip shortage will last at least another 12 to 24 months, but there are ways in which businesses can mitigate the problem to manage the crisis better.
At WithoutWire, we've seen dramatic changes in our history. Paper transitioned to computers, then to smartphones, and beyond. With artificial intelligence, things are evolving quickly; it requires us to start thinking differently about how we connect as a business. Whether you're privy to it or not, decoupled systems are here to stay. IT projects and software implementations, and integration have left many people with headaches, and we're here to help you avoid them. As a company, WithoutWire has had the privilege of being on the frontline of changes in technology. Payroll, HR, marketing, sales, customer service—all good examples of platforms that now live outside of the financial operations engine known as an ERP, and despite the critical nature of the software applications, they are now integrated into an ERP—not buried inside of it. These functional operations are now independent and creating new and innovative competitive advantages for their adopters.
If it isn't broken, it doesn't need a fix - especially if it's tech that was designed to make things easier. Sure, there are better ways to do something, but like Occam's razor, the most straightforward answer is often the correct one.
Barcodes trace back to the mid-to-late-20th century. June 26th, 1974 was the first-ever scan if you're looking for specifics. It was supposed to be an elegant solution; it was—and still is. There are always new developments to boost their efficiency, and there's always someone working to make inventory management more effortless. However, there are still times where the juice isn't worth the squeeze.
How important is it to meet the expectations of a promised ship date?
The answer, to most, is complex. Customer expectations are at an all-time high, and thus, the importance of promise-ship dates is also. Just recently, a distributor's primary concern was big-box retailers. In the 21st century, however, you need to include next-day shipping orders based online play just as big of a part.
Not meeting your promise dates can be a reason your company loses its edge. If you're working with promise dates with distributors like Target, Wal-Mart, or Amazon, there are severe penalties if you don't get your product there in a timely fashion. So, your business needs to focus on specific pick orders and the importance of allocating products to those.
To say the Microsoft suite of products for business is expansive is almost an understatement nowadays. In the beginning, it was just a few programs that worked together, with some enhanced abilities to connect your information with the people who use it. Now, it’s become its neural network of systems that can make your business better. But how?
With everything available, it’s easy to feel overwhelmed. We’ve been in the industry for the past two decades, and seen the speed at which technology is evolving; we’re here to be a resource, so we’ve developed what we’re calling The Microsoft Cheat-Sheet. Below is a list of the best products to bolster your businesses’ functionality inside, and outside the four walls of your warehouse.