Digital Streamlining of Procurement Costs
2 April, 2020
Digi-Key Launched a Free Guide and a Calculator, enabling to reduce Procurement Costs and shorten Delivery Times by automating the process of procuring Electronic Components
Photo above: Digi-Key warehouse in THIEF RIVER FALLS, Minnesota, USA
Digi-Key Electronics announced that it now offers a free eBook on the benefits of implementing Application Programming Interface (API) solutions, and a new ROI calculator to see the return on investment that implementing APIs can deliver. Digi-Key’s APIs provide a complete digital platform to automate and streamline procurement processes while providing real-time product information.
The APIs are free to use, and digitally connect customers’ systems with the Digi-Key system to provide automated, real-time product search, price and availability, product change notifications and more. Digi-Key estimates that customers who have utilized its API have seen an average savings of $50,000-$100,000.
“Speed and access to information and data are critical in all forms of electronic product design and procurement,” said Nathan Pray, senior digital product owner for Digi-Key. “Customers using Digi-Key’s API solutions save time so they can bring products to market faster and more efficiently, which boosts revenue.” An example of the APIs benefit was brought by Fremont, Calif.-based Sonic Manufacturing Technologies.
Sonic automated 50% of its purchasing activity
Sonic provides in-house board layout, prototyping and New Product Introduction through full production in as little as five to 10 days. Every week, Sonic orders about 1 million parts to support its production line. Using Digi-Key’s APIs and cloud-based procurement platform, Sonic has been able to automate 50% of its purchasing activity without adding staff.
Using Digi-Key’s APIs and cloud-based platform, Sonic’s cost to place an order (total landed cost) was reduced from a previous $40 to a current $9. While not every company will achieve 60% savings, even 20 to 30% savings on procurement costs of $400,000 each year will result in significant savings. For more information on Digi-Key’s API solutions, visit: Digi-Key API Solutions resources page.
Global High Service Distributor of ON Semiconductor
Lately, Digi-Key Electronics was named ON Semiconductor’s Global High Service Distributor for 2019. The Top 2019 High Service Distribution Partner Award honors the distributor that led the channel in digital marketing initiatives and sales of ON Semiconductor’s products. Digi-Key was recognized for partnering in inventory management and scoring highly on overall process excellence. Approximately 60 percent of ON Semiconductor’s business results from distribution sales, and distribution remains the fastest channel to market.
Headquartered in Thief River Falls, Minn., Digi-Key Electronics is an authorized global distributor of electronic components, offering more than 10 million products, with over 2.2 million in stock and available for immediate shipment, from over 800 manufacturers. Digi-Key also provides online resources: datasheets, articles, EDA and design tools, reference designs, videos and multimedia libraries. Technical support is available 24/7 via email, phone or webchat.
Posted in tags: digi-key