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Digi-Key Electronics, one of the largest electronic component distributors in the world, has renewed its partnership agreement with Paris-based startup, Precogs.
Precogs pairs market data on individual component parts with customer needs based on their predetermined strategies for price, quality and availability. Precogs’ solution is directly integrated with the customer ERP. This integration provides seamless movement of data, eliminating needless manual intervention to provide a fast, results driven product. In an industry worth $1.3 trillion a year, this immediately improves profitability through pricing negotiation, purchasing efficiency and inventory management.
Steve Vecchiarelli, senior principal for digital solutions at Digi-Key, has said of the partnership: "Digitization of our processes is the way forward and we intend to lead in the digital revolution of the electronic supply chain. We’ve searched the globe for IT partners and have selected six which will help our customers to best leverage our real-time APIs. Of those, Precogs has been on our list from day one."
Precogs recently opened their platform for access to EMS-OEM-ODM businesses across the globe, after the successful completion of a €2.5m, two-year research and development project, part of the French Government’s Concours Mondial de l’Innovation (Worldwide Innovation Challenge).
Precogs’ CEO and co-founder, Adrien Sandrini further explained: "It is critical for electronics manufacturers to have the proper tools to maintain maximum productivity. The ability to access Digi-Key’s information via APIs in real time leads to infinite possibilities."
There are two obvious examples.
1. Supplier Lead Times
Accurately updating supply lead-times is a top priority, but data collecting and recording via spreadsheet files from all suppliers can prove to be a nightmare.
Digi-Key has the broadest inventory of components with lead-times from all manufacturers updated in real time as the manufacturers make this data available. The Digi-Key API is your most reliable source for automatically-updated lead-times.
2. Accurate, Up to Date Pricing
The opportunity is there to systematically compare outdated prices with Digi-Key’s real-time pricing. The results in efficiency and savings by working in this way will surprise many buyers, open even more possibilities, and most importantly deliver immediate return on investment in a volatile market.
Backed by prestigious investors CapDecisif and Alven, PRECOGS saves EMS-OEM-EDM businesses time and money via direct connection between their ERP and a global marketplace of electronic components. A small team based in Paris, with expertise in technology and experience in the electronics supply-chain, PRECOGS has created an always-on, real-time platform which conducts live searches to quickly and automatically source the best in-market offers for electronic components.