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Hyper IC Florida can assist with several services in regards to your excess inventory. The choice of service depends on the customer’s needs and how close to the process the customer wishes to be. The customer might want to control the entire process but seeks assistance with marketing and sales. At the other end of the spectrum may be the customer who would like to outsource the entire process to Hyper IC Florida. The different types of services are briefly explained below.
Marketing and Sales of Excess Inventory
The customer stores the inventory at their facility and submits a list of their inventory, including as much detailed information as possible. For example: quantity, part number, manufacturer, date code, price/component, packaging and packaging size.
This information is necessary in order to avoid unnecessary and non-income generating communication. Hyper IC Florida will then construct a marketable list, market the goods, seek potential buyers for the parts, qualify and credit approve potential buyers, quote on inquiries, negotiate, sell the parts, and finally collect the money. The customer then invoices Hyper IC Florida for the components sold.
Consignment of Excess Inventory
This service has many advantages; it frees up valuable inventory space and also decreases administration and reduces logistics for the customer. The customer and Hyper IC Florida agree on the price level and structure that will be used. (i.e. does the customer want to have at least the cost of each components in return.) The customer then transfers the inventory and ensures that the goods comply with specific details given by the customer. Hyper IC Florida will catalog the parts and construct a marketable list. Marketing and sales will take place as above. Reporting and reporting needs will be agreed upon between the customer and Hyper IC Florida.
Purchase of Excess Inventory
The customer offers Hyper IC Florida the opportunity to purchase their inventory speculatively. The customer submits the list to Hyper IC Florida in order to request an offer. Hyper IC Florida will evaluate the list according to the current market and ability to liquidate the parts. Hyper IC Florida will present the customer with an offer based on the goods being of acceptable quality. If the customer accepts the offer, Hyper IC Florida will conduct a quality assurance inspection. The parts are then transferred to Hyper IC Florida.
Liquidation of Excess
If the customer wishes to sell the excess inventory the fastest way possible and if Hyper IC Florida is not interested in purchasing the goods, Hyper IC Florida will assist the customer with this transaction. Hyper IC Florida will invite potential buyers to bid on the inventory. Hyper IC Florida along with the customer will select the most appropriate bid and complete the transaction. The same quality and information demands as above are needed.
Excess Order Replacements
In today’s market there are large quantities of top quality product on the excess market. This product is inventory which neither the manufacturer nor the authorized distributor assists it’s customers with. Hyper IC Florida can offer its customers the ability to seek the replacing and or supplementing of its regular deliveries. Large sums of money can be saved using this service. Hyper IC Florida and the customer will agree on which components are in question, what quality demands (i.e. date code restrictions) are to be enforced, as well as what price advantages are sought in order to make the transaction possible. For instance: A contract manufacturer looks to save 30% on a select few components purchase price, components in specific volumes in order to motivate the transaction. Hyper IC Florida sources the excess market for the components at the given target price. Hyper IC Florida buys the goods, which are quality assured and delivered.
The customer buys components from 100’s if not 1000’s of vendors. Often these purchases follow the 80/20 rule. 80% of the purchases come from 20% of the vendors. This is cost prohibitive, especially from an administrative perspective. Due to Hyper IC Florida’s independence, we can buy from and sell to whomever we find suitable. Hyper IC Florida offers, with the customer, to evaluate which “low volume vendors” could be interesting to consolidate under Hyper IC Florida. Hyper IC Florida will then, on the customers behalf, seek and offer the same terms and conditions, but with the delivery of goods in kits and offer more manageable billing.
Ramp-up Procurement Service
In order for prototype production to start, a Bill of Material with very low quantities needs to be purchased. This involves a lot of labor and risk of purchasing too much product. Hyper IC Florida can assist with low volume purchases of complete BOM’s, saving the customer time and money. Through outsourcing of these purchases, delivery of kits can be arranged and billing will be consolidated. Experience has also shown that Hyper IC Florida can offer lower minimum quantities due to its large vendor base, which gives many purchase possibilities.
Last Time Buy Service
This is the big dilemma in today’s electronics manufacturing, where components have shorter and shorter life cycles. The component manufacturer communicates a Last Time Buy to its customer. The customer is asked to estimate and purchase the quantity of the obsolete component, which they believe is needed for the remaining life of its end product. This is very difficult equation, and involves investing large sums of money in inventory. The distributor and the component manufacturer offer little or no assistance. Hyper Partners offers a service where Hyper IC Florida will buy this inventory on behalf of the customer. As LTB’s often involve significant investments, this service offers the customer the ability to use its resources in its normal business practice where it can help generate the expected return. It also frees up valuable inventory space, and decreases administration. The goods can be bought from the manufacturer, the distributor or the customer themselves. The inventory is allocated to the customer, whilst held with Hyper IC Florida. It will be stored according to the customer’s and industry standards when it comes to ESD, humidity, temperature, etc. Deliveries will be scheduled according to the customer’s needs. The customer will be charged the cost of the delivered goods, plus handling and finance costs. An added bonus, which Hyper IC Florida can offer, is the ability to liquidate this inventory should the customers need for the goods decrease. Hyper IC Florida can also offer to purchase these goods on the gray market in order to hold costs down.
Quality Testing and Assurance
Today’s component market is focused on producing goods that will yield the highest return. Little or no attention is focused on what the end-users needs are. The product lifecycles are shorter and shorter. The cost of electronics in end goods are getting higher and higher. If the end-user did not do their Last Time Buy, or their need increases, it will result in the end-user being forced to buy the goods on the gray market. This market inherently comes with certain risks, such as: counterfeit components, refurbished goods, etc. These are risks that Hyper IC Florida can help to lower through its stringent quality assurance and vendor management procedures. Hyper IC Florida can also offer to upgrade components, i.e. from commercial to industrial or from industrial to military temp grades. The cost of these tests varies according to the complexity of the component and the quantity tested. Individual quotes are made for each test needed.
Just in Time Delivery
As components are distributed by geography, you will experience price and availability fluctuations on one and the same component. Hyper IC Florida can use this to your/our advantage. Hyper IC Florida has direct relationships with many component manufacturers and authorized distributors worldwide. A large portion of our time is focused on establishing these relationships in order to better serve our customers. As Hyper IC Florida can be a local customer with local offices, we can therefore receive local price and delivery advantages. As a result, we are able to offer the vendor new and increased market share. If you have a component that has been sold to you by the local distributor and you are not satisfied with their services, Hyper IC Florida can offer you alternative manufacturers or seek delivery from another distributor in a different market.