Look outside of your company to take advantage of the sourcing efficiencies that other companies have created.
aircraft, sourcing, parts
Most likely what will prevent you or your business from dominating your market is the failure to recognize the efficiencies provided by the Internet and computer technology. The procurement of aircraft parts can be one of the most inefficient processes on earth if not approached in the correct manner. The opportunity cost associated with searching for parts can be enormous. Some companies just accept the time drain of searching and calling as a normal cost of doing business. These companies will be the ones that struggle the most in the coming years. The search for parts is only going to become more difficult as chips and boards become obsolete at the fastest rates ever. If you can’t find the part fast, the hidden cost of prolonged part procurement will sink you.
Savvy parts suppliers anticipated the need for simplified sourcing systems, and have developed databases and search engines to make sourcing simpler than ever. The key for you is finding these data repositories and leveraging their enormous potential to make your life easier and your company more profitable. Often times, navigating complex data bases via search engines, can be a daunting task for someone who doesn’t have much experience with procurement. Maybe they just got the order from higher up to ?just find it?. ? I don’t care how you do it, or how long it takes you, just find me that (insert expletive here) part.? Well, the truth of the matter is, they do care how you do it , and they do care how long it takes you. And finding aircraft parts that meet strict regulations and design tolerances is obviously no easy task. If you come up empty handed after your search, what options are you left with? Most likely only one, the dreaded, expensive, redesign. Not good.
Diminishing manufacturing sources and material shortages will continue to increase costs at an astounding rate in the next few years. Commodities are experiencing bull market runs like we have never seen before. Adding wasted time into the cost equation simply results in a slow, inefficient business model. Trouble shooting and finding parts fast has always been important, but now, as more parts are outsourced, inventory management will truly be the cornerstone to a successful operation. The procurement specialist is faced with two options: training themselves or staff, to perfect a sourcing process, or pay someone to do it for you. The latter is usually the wisest choice. Take advantage of the economies of scale that businesses have created. Finding an experienced business is all one needs to do in today’s technological intensive parts environment. Let these companies work for you at a cost that is far cheaper than a drawn out sourcing search. They will have systems in place designed to trouble shoot your specific problems. Most likely you are not the only person on the planet to have experienced the problem, someone else may have had the same issue, or at least something similar. Harness the power of the experiences of all the people who deal with these issue every day, and your life will be much easier.