CalcuQuote Launches Community for Exchanging Inventory -- StockCQ
CalcuQuote, a supply chain solutions provider for the electronics manufacturing services (EMS) industry, has launched a beta version of their newest offering, StockCQ, a peer-to-peer platform for OEM and EMS companies to directly trade inventory with each other.
A collaboration between CalcuQuote and IPC, a global electronics industry association, allowed a rapid, iterative response to the collective concerns of the electronics manufacturing executives about the impact of component shortages. Through a series of roundtable discussions, with more than 75 executives in attendance, consensus was reached that a fair way of sharing inventory directly with each other would help mitigate the impact of the ongoing component shortages, free up working capital and reduce waste.
“Global component shortages have clearly been a top pain point voiced by virtually every EMS leader, especially over the past few years. IPC and our member-driven EMS Industry Council are very excited to facilitate this strong collaboration between CalcuQuote and a growing group of EMS / OEM companies. We believe that we have a very real opportunity to address this significant industry need,” said Mark Wolfe, IPC Executive EMS Advisor.
CalcuQuote’s research across millions of searches shows that cases of sufficient stock responses from the supply chain have dropped more than 20% during the past year. This leads to a significant number of assemblies being stuck without the components they need in order to be completed. However, findings also show that in 30% of cases where authorized distributors are out of stock, the same component was also identified as excess inventory by another company within the CalcuQuote ecosystem. This 30% overlap between shortages and excess inventory is the reason why StockCQ can help alleviate the supply chain challenges.
StockCQ derives its name from the idea of a global stockroom where electronics manufacturers can virtually store their excess and slow-moving inventory. The listed inventory can then be easily searched and safely purchased directly by other electronics manufacturers.
Individual and group discussions with 100+ electronics manufacturers across the globe have shown an enthusiastic willingness to participate in this newly formed beta community. In just two weeks of beta access with a group of 15 users, there have been 50+ successful matches among the 45,000 listed part numbers.
“The CalcuQuote team is excited to address a significant challenge facing the electronics supply chain with a technological solution. StockCQ will become a trusted digital community for OEM and EMS companies to trade fairly with their peers,” said Chintan Sutaria, CEO of CalcuQuote. “The spirit of collaboration has already shown to be very strong with dozens of electronics company executives attending executive roundtable sessions and sharing their feedback so that we can build a solution that works for everyone.”
Participation in beta StockCQ is by invitation only for all electronics manufacturers (OEM and EMS companies). To request your invitation, contact stockCQ@calcuquote.com or visit calcuquote.com/stockcq.