January 25, 2012

Converge 2011 Survey Respondents Seek Quality Assurance

Several months ago, Converge conducted its biennial customer satisfaction survey, which many blog readers probably received. If you were one of the hundreds of people who took the time to give us your valuable feedback, we cannot thank you enough. We view this survey as an opportunity not only to gauge (and improve) our performance level, but also to gain valuable insights about the electronic components industry from our global customers.

Converge customers are the innovators of today’s latest technology. They build electronics to fulfill every vertical need from telecommunications to consumer electronics to the industrial market – and beyond. And, of course, almost all our customers work with larger franchises and authorized distributors on a primary basis. But there are times when those normal supply channels become disrupted and a trusted independent distributor becomes the best option for sourcing the parts needed in time to keep production lines moving.

Alternatively, when the market slows and companies find themselves saddled with surplus inventory, they need a remarketing partner that can help them recover value while allowing them to remain focused on their core competencies. So we were not surprised to learn that the No. 1 reason that 2 out of 3 of our 2011 survey respondents say they come to Converge is for shortage solutions, followed by surplus remarketing and then market intelligence.

Keeping these results in mind, we did find it particularly telling that when asked to rank the most important service Converge offers, more than 30 percent chose “quality inspections” and nearly the same percentage chose “onsite anti-counterfeit equipment.”

When more than 60 percent of survey respondents say they come to Converge primarily for sourcing shortage materials, it is little wonder that the same percentage places the highest importance on our robust quality inspection program and our advanced on-site component testing services. Yes, our customers need parts that can be found only on the independent market, but in this day and age, they also know the risks involved in working with “any broker” to procure them. And many of them have decided that working with a distributor that doesn’t have in-depth electronic component inspection capabilities is not a chance they are willing to take.

Our survey respondents also told us that order accuracy and on-time delivery are highly important to them. We thought so. And we’re proud that more than 95 percent of them believe that Converge is meeting or surpassing their expectations when it comes to getting quality parts to them in time to meet their deadlines.

At Converge, we really love what we do – thanks, in no small part, to all of our innovative customers. Converge is proud to be your quality-driven partner for sourcing and remarketing quality electronic products in the independent market. When you need to buy obsolete electronics parts, think of us. We look forward to serving you even better in 2012.

January 11, 2012

Consignment Visibility Tool Simplifies Surplus Remarketing

Trying to remarket surplus electronic components can be a tremendous amount of work for manufacturers and EMS providers. Unless your company is equipped with market intelligence, it’s not easy to find out how much your excess electronic components inventory is really worth or who might be interested in buying it. There is also the danger of finding the wrong buyer – e.g., a broker instead of an end user – whose markups and fees can minimize your financial return. In addition, dealing with product staging and global shipping logistics can be a real hassle when those activities are not part of your company’s core mission.

Converge specializes in helping technology manufacturers solve their complicated surplus problems, while minimizing effort for the manufacturer and maximizing return potential. One way that we make the remarketing process as easy as possible for our clients is through our consignment program. Converge consignment is a turnkey solution in which the customer ships the surplus inventory to Converge, where it is inspected, sanitized, and marketed to our global network of contacts. However, the customer retains ownership of the inventory until it sells.

Converge’s proprietary online Consignment Visibility Tool (CVT) simplifies the process even further by allowing customers to view and manage all consigned inventory via one centralized hub. Some of our CVT features include:
  • 24-7 transparency. Customers can log in to see their surplus inventory status at any time.
  • Improved chain of communication. Our customers’ third-party partners – such as contract manufacturers – can also participate and access the CVT system, so customers can keep their entire supply chain streamlined and connected.
  • Inventory balancing ability. If customers’ forecasts change and they need some of their consigned products back, they can simply look in the CVT to view what is available. Converge will ship the products back at no cost.
  • Real-time financial forecasts. Consigners can see how much of their inventory sold, at what price it sold, and how much revenue to expect at the end of the month.
  • Flexible reporting. Converge sends regular consignment inventory reports and payments on a monthly basis. Clients can also download information to create their own reports at any time through the CVT.
Many companies struggle to find an effective way to get excess electronics components inventory back into the supply chain. Converge can help you return that value back to your bottom line … without all the work that goes with selling your own inventory one line item at a time.