No one wants to pay over the odds for something they need. And when you’re in the manufacturing business, keeping costs down is essential. As a purchaser, the pressure to find the right quality components for the right price can feel like you’re searching for a needle in a haystack. 

Traditional procurement processes often entail reaching out to numerous suppliers, requesting RFQs, comparing copious prices for copious parts and components. As well as scouring trade websites, catalogues, comparing prices, searching for deals and all the while trying to secure a practical and reliable shipment contract. The search for electronic parts is often a laborious process and one that simply doesn’t guarantee you the very best price – but it doesn’t have to be. 

Thankfully, the advancement of BOM software and management tools not only ensures you get what you need but always at the very best price. Here we’ll explore painless ways to ensure the best price for your electrical components. 


Comparison is king

Comparing prices is part of the procurement process, however the longevity of the process and the time effectiveness of a traditional approach, often means purchasers are left with limited choices and higher rates. 

Finding the best price for your electrical components doesn’t have to be painful, by simply signing up to Sourcengine and uploading your Bill of Materials directly into their e-commerce marketplace, you can compare thousands of vendors, millions of products and their latest offers. By entering specific search criteria, you can narrow down your search and find exactly what you’re looking for at the right price, within seconds. It really is that simple. No more phone calls, no more website comparisons, just the best prices every time.


Get peace of mind included in the price

A great price is one thing, but if the part is of poor quality and isn’t up to your expected standard, then it doesn’t matter how low the price was! The time and expense you’ll now spend trying to rectify the issue will quickly sour any saving you think you may have made. 

This is another reason why more businesses than ever before are turning to BOM management tools, to not only ensure the best price but to keep their reputation for excellence and high quality intact. A low price doesn’t always have to reflect poor quality, as all vendors on Sourcengine are fully traceable, authorised and thoroughly vetted. On top of this, all components purchased include a 3-year warranty as standard.


It’s better for your budget

When you’re dealing with limited choice, and limited-time then it’s not always easy to stick to your budget. But when you head online and use BOM tools via Sourcengine, you get the best of both worlds. A streamlined and accurate search means you can stick within your budget and there may not be a minimum spend with certain suppliers, giving you more flexibility as well as approved parts and vendor traceability.


Final thoughts…

It’s easy to see that searching for your electrical components online via Sourcengine and using their BOM tools are highly effective and painless ways to keep your costs low. Head online and open your free account today.