Distributor & Supplier Focus
Size doeSN’T mATTeR
Newark’s i-Buy purchasing solution is flexible enough to fit any size company
Newark is not only a pioneer in electronics distribution, but in procurement solutions.
Newark continues to lead today, by offering awide range of no-
cost solutions to help purchasing professionals bemore productive and efficient, in addition to stocking the industry’s broadest selection of electronic products for the board, bench and facility floor.
Newark’s newest purchasing solution, i-Buy, was launched earlier
this year. It’s an easy-to-use intelligent buying enhancement to
Newark.comthat can provide any size company with a no-cost alternative to expensive automated systems.
2,000 companies now using i-Buy
i-Buy has already proven to be a win-win-win solution for purchasing executives, buyers and end-users in 2,000 companies. Procurement and financial executives get an efficient purchasing solution for their electronics spend, at no cost to their company. Buyers get a customizable, automated purchasing approval system, and end users have an easy, timesaving process to follow that gets themapprovals and products faster.
Themulti-level tier structure of i-Buy allows an organization to
duplicate its exact purchasing structure. Each tier can accommodate separate cost centers, budgets and approval flow. Payment preferences and accounts can also be structured, allowing for automated billing or payment card charges. The approval limits, workflow and email notifications are all determined by the company—even what happens when an approver does not respond within a specified timeframe. Budget limits can be set by week,month, quarter or any fiscal time period. It’s far easier for a company to stay in budget when the workflow and spend limits are its own.
Total transparency of electronics spend
Whoever administers i-Buy can create customfields that can be named to suit the company’s needs. Important tracking information such as project number, cost center and budget account can be entered at the point of order, and can be set to follow the purchase through to delivery, receipt, payment and budget reconciliation. On demand reporting provides visibility into all purchases across a company’s tiers, cost centers, projects or budgets.
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Reduced costs and time-savings
i-Buy can dramatically reduce administration time and automate the requisition process. As orders are created, they automatically flow through the approval process. If an order needs approval, an email is automatically send to the approver, notifying themthat an order is waiting for their attention. Orders not needing approval automatically flow through the system. Shipping addresses and carrier preferences can be built into the i-Buy process, as well as payment type and purchasing card limits.
No additional training
Another benefit of i-Buy is that there is no change to theway users order products on ourwebsite, and therefore no additional training required. i-Buy is easy to set upwith the assistance of Newark’s eProcurement Team. After setup, your companymanages user profiles; spend limits and approvals, and any changes to the structure. The setup is completely self-service right fromour current website and Newark’s dedicated teamis on hand to answer any inquiries before, during and after a set-up.
Amore efficient way of working
Establishing online spend limits by user, order, and department eliminates the requirement for paperwork. There is no change to the way engineers buy fromNewark. They continue to have access to 4.4million products when they log into
Newark.comwith their i-Buy password. Once they proceed to check-out, i-Buy takes over, asking for required fields determined by their organization, and then routing the order to the approver. Once approved, users can access their order status through a suite of tools, rather than chase after paperwork. These tools are calledMY ACCOUNT eSuite, and they enable buyers to track their orders, view order history, turn Newark quotes into online orders, and view invoices.
Formore information about how i-Buy can work for your company, please contact Newark’s eProcurement teamat:
www.newark.com www.electronics-sourcing.com
Automated purchasing management system
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