The cost involved with component sourcing is undoubtedly an aspect that needs to be mutually agreed on by both the customer and the manufacturer. Nevertheless, Wells is highly involved in this process by providing a low-cost component procurement service with prices based on ERPs and real-time market information. In addition, Wells’s various partnerships mean that affordable and cost-effective prices can be quoted to customers directly. Furthermore, it must be said that the price quoted includes the high standard of service provided by Wells, from the cost-effective sourcing of components to a timely delivery/collection. However, there are several factors that must be considered when assessing the cost of component sourcing, such as component availability, procurement lead time and the current supply chain status.

To start with, the availability of components may depend on how rare or obsolete that part is. Of course, components that are more obsolete, rare or at their end of life are much more difficult to procure compared to more common components. In cases where this is true, not only may the price involved with component sourcing increase, but the delivery time as well. Do keep in mind that component shortages can occur from time to time and may greatly affect the procurement process, as seen with the effects of the recent pandemic. Next, the procurement lead time describes how long it takes for the PCB manufacturer to purchase the necessary components from suppliers. Of course, this factor is very variable and constantly changing depending on other sub-factors like availability, supply chain status, delivery delays, communication etc. A shorter procurement lead time usually correlates with a decreased cost. The third factor contributing to the cost is the real-time supply chain and market status. Logistical costs, prices of raw materials and supply/demand truly exhibit a mass effect on procurement costs and although it is near impossible to always purchase at the lowest possible cost, the Wells procurement team will always ensure that you are not paying excessively high costs. 

Considering the various factors that are involved in the component sourcing process, many of them are not under your control and there is not much that you could change as a customer. This is where Wells’s purchasing staff comes in to assist you to the maximum by finding the correct balance between component performance/quality, price and procurement lead time. In addition, the team will try their best to assist you in finding any obsolete or rare components based on their experience. Nonetheless, there are definitely a number of key tips that should be kept in mind during this process. Firstly, it is recommended that you choose components for your project that are not obsolete or at their end of life, as that will make component sourcing much easier. Checking suppliers’ websites online is additionally good practice to check for component availability, procurement lead time and delivery information. Performing this brief pre-check may reassure you that your component can be procured and reduce any possible stresses along the way. Secondly, ensure that you have alternative components planned out in case there is a lack of availability or difficulties in procurement for your desired component(s). Simply having a backup plan for your project is always a wise idea during PCBA as you may need to swap out component models or perform a re-design at any stage. Thirdly, make sure that your BOM list is thoroughly checked before submission and that each component matches up to your PCB fabrication design. Although it is possible to contact support staff along the way for minor changes, it is optimal if everything is submitted correctly the first time.