In these uncertain times, the automotive industry is facing unprecedented turbulence in every aspect of their business, including equipment shortages, supply chain interruptions, labor disruptions, and a variety of new operational systems and policies. In order to remain relevant in this changing world, automotive manufacturers are rethinking their approach to supply chains and procurement.
At NetSource Technology, we specialize in finding obsolete, end-of-life, highly allocated, long lead time and other hard to find components for leading OEM and Contract Manufacturer organizations, across the globe. Our automotive sourcing services provide shortage relief while reducing costs for the OEM.
Supply Chain Considerations for Manufacturers in the Automotive Industry
To keep up with the changes in the automotive industry and maintain competitiveness, manufacturers must consider the following aspects of their supply chain approach:
- Alter Your Supply Chain for Resiliency. It is important to stay current on information from the CDC and WHO to determine which suppliers, manufacturers, and distributors in your supply chain may be affected. You can use this information to create alternative methods for each scenario and ensure reliable product sourcing.
- Implement Contingency Plans. Supply chain resiliency relies on having the agility to switch your supply chain plan quickly and efficiently. Build flexibility into your contracts and try to source materials and products from locations that are easily accessible. Thorough analysis of your financial goals and constraints will allow you to create scenarios that incorporate this information to ensure optimal profitability while enhancing your operational efficiency for various contingencies.
- Revisit Financial Projections. Consult with your legal and financial professionals to revise projected income, forecasts, and business plans that are affected by the changing market. Prepare projections that consider both the highest and lowest possibilities for your monthly, quarterly, and annual income, so you can be prepared for all scenarios.
- Assess Cash Flow. Your company may be adjusting to decreased income levels, making it important to consider the cost of your current operations, including changes put into effect for safer operations during the pandemic. Conduct a thorough review of your financial obligations and identify your assets and collateral, in case additional financing is necessary.
Automotive Component Procurement
NetSource Technology is dedicated to helping our customers in the automotive industry meet current challenges by obtaining hard to find components with ease and simplicity. We can readily source a variety of automotive parts, including:
- Sensors and Optoelectronics
- Automotive Resistors
- Connectors, Inductors, and Relays
- Cable and Wire Assemblies
- LCD Dashboard Screens and Panels
- USB 3.0 Receptacles
- Bluetooth and WiFi Equipment
- GPS Components
- TE Connectivity Connectors
- Auto Resistors
- DRAM Memory ICs
- RF Sensors and Cables
In keeping with the most up-to-date automotive technology, we also carry components for the Snapdragon 602,820 CPU and a variety of C-V2X Cellular solutions.
Supply Chain and Procurement Solutions from NetSource Technology
If you are looking for a reliable supply chain and procurement solutions partner, NetSource Technology has the right combination of industry connections and technical knowledge to help. We understand that the changes occurring in the world today can create unsettling conditions for every aspect of your business. Our goal is to make your component procurement operations as easy and stress-free as possible. To learn how NetSource can help you keep your production lines moving forward, visit our automotive page or request a quote today.