Cloud service platforms form part of the key strategy for emerging semiconductor distributors to succeed with new business models. Sourceability, relying on its Sourcengine platform and Quotengine software system, assists customers in completing the procurement process for electronic components and helps them get a handle on dynamic information on such things as price, inventory, and product specifications for key components. It also helps customers get the most favorable procurement cost in the midst of here-today-gone-tomorrow business opportunities and thus expand their chances of success in the market. Sourceability's effectiveness has allowed it to build up high-paced revenue growth over the past few years and gradually gain a firm foothold in the market. Through its expansion in the Asia-Pacific market, it is expected to assist local customers and supply chains achieve digital transformation and innovation in electronic component procurement.
Founded in the United States in 2015, Sourceability is an emerging distributing company that built an e-commerce marketplace platform focusing on electronic parts and components. Mr. Yashar Shahabi, Sourceability's Senior VP of Digital Solutions, said in an exclusive interview that Sourceability built its marketplace – Sourcengine, through a digital platform system. It greatly enables industry by establishing a business model that can span global semiconductor channels and markets through navigation of data-driven technology. Thanks to big data analysis technologies, it helps customers start an automated system, from the collection of a large amount of transaction and market data. With the key technologies needed to process huge amounts of data, it has built a global e-commerce platform for semiconductor channels and supply chains to allow customers to get a handle of the rhythm of rapid market shifts.
Shahabi cited two very successful examples in dealing with change by using the Sourceability e-commerce platform as proof of its effectiveness. The first, it is crucial support at critical times when the shortage of passive components puts the business world in dire straits, and that it solves subsequent operational risks in long and short materials caused by supply-and-demand imbalances. The other is the large shortage of automotive chips that is still fresh in everyone's mind, a shortage that led to the breaking of the automotive supply chain. At both junctures, Sourceability clients saw the benefits of sharing transparent information across digital platform tools, and that, in turn, allowed them to become digital transformation success stories.
Innovation solves customers' issues of data optimization in electronics procurement
With Sourceability's software tool – Quotengine, the client can submit the BOM of electronic products, and then, after using the Excel file to import hundreds of materials in batches, the cloud platform can immediately analyze the manufacturer material numbers, quantity, demand, and other data. The big data analysis function of Sourceability allow customers to search through more than 1 billion chips and electronic components of various types and functions, get quotes, quantities, and delivery dates by category, and get analysis reports within minutes, assisting the supply chain to complete batch order procurement and a full range of other services.
Mr. Kevin Wang, Sourceability's Managing Director for APAC, pointed out that major European and American electronics manufacturers have run into the various risks, such as rush order effect, supply chain disruption, and interruption of international logistics and transportation caused by the pandemic. In particular, he noted irrational behaviors, such as repeated orders from a large number of electronic component buyers. But by using the analytic tools provided by Sourceability, material procurement and drafting of a rapid response plan are completed quickly and with extremely pared-down manpower, usually in observation intervals of minutes or hours. This allows the customer to stay up to date on market changes, greatly improving their procurement decisions for key components.
Furthermore, using Sourceability's Sourcengine platform to launch countermeasures that can assist in the hunt for replacement parts and products will also generate quick benefits. The automobile industry is already well aware of the major crises and risks in the industry overall caused by supply-and-demand imbalances for semiconductor products. Using the data insights of component specifications and functions on the Sourcengine platform, assists the upstream product design end to start sharing data, creating a supply-chain ecology where supply and demand are regulated.
In fact, some mainstream European and American chip manufacturers, considering the trend of the gradual decline in the value of agents, have also tried to expand their sales channels of chips by breaking through regional agency rights. Therefore, the Marketplace also has the opportunity to shine like other consumer products on the e-commerce platform. Once the trend of information transparency and real-time transactions matures, online business opportunities will have more chances for success. Whether certain channels can make money depends entirely on the value of their providing differentiated services. The value of data is the most important driving force for Sourceability's insistence on its business model of the digitally transformed online marketplace and for its continued expansion in the Asian market.
Sourceability will continue to develop its technology platform backed by big data analysis to provide customers in Taiwan and Asia with multi-channel price and market integrated information services. Along with considerate services, such as logistics, warehousing, and financing, Sourceability strives to bring the good experience in digital channels that European and American customers have had to the Asia-Pacific market. At present, Sourceability has three distribution warehouses: in Hong Kong, Singapore, and Miami, USA. It has established offices and branches in many cities and regions in Taiwan and China. In 2023, it will continue setting up branches in such markets as South Korea, Japan, Vietnam to continue to expand its business in Asia. See the official website to learn more about the services provided by Sourceability.
Sourceability's supply chain digitalized tools: Sourcengine - online marketplace, Quotengine - quoting & BOM management tool and Datalynq - market intelligence solution
