whitepaper

The Anatomy of a Professional Component Sourcing Power Tool

Introduction

Let’s start with some common knowledge: It costs a lot more to fix problems caused by poor part selection than it does to research and select components properly the first time. Samsung recently learned that lesson the hard way.


Realizing late in the design cycle that your product contains parts that have procurement challenges and/or functional limitations is a costly misstep no company can afford. However, implementing rigorous and consistent part selection policies remains a complex mission: manufacturers and distributors are located everywhere in the world, online purchasing experiences range from seamless to absolutely awful, inadvertently purchasing counterfeit parts is a real risk, and comparing prices from dozens of distributors, one part at a time, is immensely frustrating and time-consuming.


In this paper, we'll look into the anatomy of a meta search engine, and discover the benefits associated with the adoption of automation, web-based technology and a comprehensive treatment of massive amounts of available information.

Imagine a solution that would require a simple input: a part number and a quantity, and would return the most competitive price for your component, after comparing available options across all trustworthy distributors. Imagine a solution that would catch nomenclature errors on the go, and instantly suggest fixes - in the form of orderable parts. Imagine a solution that would also deliver a comprehensive historical analysis of pricing and stock availability, while warning you of potential procurement challenges down the road. Finally, imagine this solution being capable of showing you all alternative components matching form, fit and function, and allowing you to make a purchase in one single click.

Now imagine doing this at scale: not one part at a time, but for tens, hundreds or even thousands of parts simultaneously.

This solution now exists. Welcome to Findchips Pro, the only independent meta search engine for electronic components.

Overview

Findchips Pro helps 6 millions professionals to grasp the spectrum of sourcing options for their lists of components.

Under the hood, a powerful engine aggregates and normalizes data from a wide range of sources in the electronic component market. Incoming data streams are processed and translated into a comprehensive view of a component’s market data.

Findchips Pro allows users to experience unmatched information accuracy, along with exclusive market insights and unique historical data analysis.

Findchips Pro is part of the SupplyFrame sourcing ecosystem, a product line dedicated to delivering productivity improvement for engineering and supply chain management teams worldwide.

Sometimes numbers speak louder than words.
3.7M+

Active Findchips Users

124M+

Components Indexed

62M+

Searches

Features

Findchips Pro combines the powerful features of enterprise-grade solution with an intuitive user experience. Before we dive into further details, feel free to watch the quick explainer video below to get a general idea of Findchips Pro’s core capabilities.


List / Bill of Material (BOM) Upload

Automating tedious and repetitive tasks is critical. Not only does it eliminate the vast majority of human errors, it also enables engineers and buyers to focus on higher value areas of their functions.

Never search for parts one at a time again. Upload a list of components from a spreadsheet or a CAD file, and let Findchips Pro go to work.

List / BOM Summary

Once your list is processed, a summary is generated in the top bar of your dashboard (see below).

It contains all critical informations related to your list such as immediate budgetary pricing, a component status breakdown including immediate alerts on nomenclature errors or unavailable parts, and various export options.

Findchips Pro Dashboard
List summary includes immediate budgetary pricing, distributor breakdown and component alerts

Distributor Preferences

When uploading a BOM, users can narrow the list of suppliers to include in the search results. This can be done at the account level, and applied to all future searches, or specifically applied at a list level.

Export

Your work is never stuck into Findchips Pro. After your list is processed, you can export all the data back into a spreadsheet with a single click. Use filters to export specific data sets.


Cross References (XRef)

Findchips Pro gives you the ability to immediately identify several alternatives parts that match the form, fit and function (FFF) of a component.

Pin to pin replacements can avoid costly redesigns. Save lists of alternatives for your primary components and quickly assess the available inventory across the market.

Findchips Pro Dashboard
Findchips Pro automatically searches for cross references matching FFF

Part Validation

Realizing that a part from a Bill of Materials isn't orderable down the line can cause major disruption in the form of delays and/or redesigns.

Findchips Pro scrubs your BOM / list and looks for misspelled part numbers, obsolete components and instantly creates alerts in your dashboard.

Once notified, a contextual menu will display suggestions and allow you to replace old or incorrect part numbers with the latest clean data available.

The pie chart summary (see List / BOM Summary) lets you assess the orderability of your list at a glance. Parts with no exact match and components for which no sufficient inventory was found can be filtered by simply clicking on the labels.

Findchips Pro Dashboard
Findchips Pro automatically searches for cross references matching FFF

Exclusive Market Intelligence

Findchips Pro is not only the most powerful component search engine in the industry. It also enable users to take advantage of unique granular intelligence and advanced analytics to make smarter, faster decisions.

Price History: A comprehensive graph of price variation over the last year and a summary of price changes in the last 30 days.

Stock History: A graph displaying the part availability - aggregated across all vendors - during the last 12 months

Risk Rank: combines statistical and real time factors to determine the stability of a component throughout product design cycles. Factors such as historical price and stock levels, price volatility, current stock diversity and other proprietary statistical methods are aggregated into a single risk number.

Popularity: An indicator based on the part’s frequency and volume of search on FindChips.

The popularity indicator is statistically relevant, as it is based on over 40 million of unique searches monthly on Findchips.

Try Findchips Pro for Free during 30 days.

No commitment, no credit card required. Have fun!