What Our Trending Charts Can Tell Us About the Electronic Components MarketBy Logan Wamsley
22 million unique parts. 5,000 suppliers. Over 50 billion data points.
This is data we cite often at Partstat, not for bravado, but because it properly illustrates the sheer scale of our Big Data, which we receive from uploaders all over the world. These uploaders span the gauntlet from small independent stocking distributors to some of the largest, most recognized suppliers in the world, each one united by a common goal of reaching buyers wherever they might seek inventory – whether that is through Google, Bing, Yahoo, or through our own free Part Search feature. And just like we don’t hide our uploader’s inventory behind any barriers or paywalls, we don’t impede on any buyer’s ability to maximize the value of our Big Data in regards to their sourcing needs.
This means our historical trending charts, comprised of up-to-date data on each individual component in our marketplace, can be accessed by any Partstat user absolutely free.
There are three separate charts available for viewing: average price, average quantity, and average lead time based on the data from both authorized and non-authorized distributors. Each chart can be viewed three months, six months, or a year out, and each offers their own perspective on that state of the market regarding the component in question.
There are dozens of free resources that offer a broad analysis on the state of the electronic market as a whole, but if an engineer or inventory procurement manager wishes to drill down into detail about a part specific to their bill of material, a serious financial commitment is required.
For a service that offers comparable information, your company should expect to spend – and spend a lot. A steep price tag does grant those willing to pay for vast quantities of minute information, but often it is not aggregated in any digestible form; the task of analyzing it, evaluating whether it is relevant, and interpreting long-term trends is left up to the customer – a process that can take weeks and not an insignificant amount of personnel to complete. On Partstat, our software consolidates this information into interactive, user-friendly charts that contain all the information one needs to make a purchasing decision in their company’s best interest.
Each available chart has its own story to tell, but they are most useful when their stories are combined to create a complete picture of the market on a micro level. If a user sees a component’s lead times trending upward while quantity levels are decreasing month-over-month, for example, it is likely a sign that component is preparing to go on allocation. If the price has remained relatively stable, then this would probably be an opportune time to place a large order using our Rapid RFQ feature before the effects of a seller’s market become more pronounced (rising prices, bidding wars for limited inventory, etc.). And with each supplier granted an aggregate score by customers based on the accuracy of their uploaded information, you can be assured that the inventory in question is real and will be fulfilled exactly to your specifications.
Having the tools to make educated decisions on such crucial matters quickly is an invaluable asset to any supply chain professional – and you can try it out for yourself by just typing a part number into our homepage. To request quotes, email unlimited Rapid RFQs to hundreds of authorized distributors in seconds, and save quotes to share internally with colleagues, just create a free account by clicking here.