View fromthe Top
What does adding value mean?
CEO of Young Electronics group, TimHazzard discusses adding value in the electronics distribution sector
So what does adding valuemean? At Young Electronics Group (YEG) it does notmean supplying all things to all people, but rather giving a ‘personal touch’ bespoke service and focusing on specialist areas where the company has knowledge and experience and can offer proactive support and design advice. The best way of illustrating this is through examples.
YEG's areas of expertise include LEDs and manufacturing
electronic products. Increasingly we find that these two specialisms fit together to provide an overall
service.Many lighting businesses with a good range of traditional light source products know that their range can be enhanced by adding LED alternatives.We help them to select the right LED to use, primarily by looking at light output and cost.We can then help design and supply the appropriate lens, driver, power supply and thermal solution for their products.We can also undertake manufacture and provide a complete board for integration into the final product.
Of course, many customers have their own in house expertise
and all they want is a component. Service is then the key issue. We work in an environment where lead times are sometimes long and supply risks great and everyone has experienced products going onto allocation with little or no notice.
YEG manages these issues with a personal touch as every
customer is different. Of course we hold stocks to give time if problems arise, but adding value is what happens if there is a problem. The first issue is communication. Tell the customer what is happening and understand the real extent of the problem, then work with the supplier tominimise the problem. If possible request and negotiate a priority. Consider alternative sources
4 |March 2011
and whether an alternative component is a possibility, via YEG's component sourcing arm. Finally, when the component is available, get it fromA to B as quickly as possible. It is not rocket science and we can’t solve every problembut with a personal approach we canminimise the impact.
CEO of Young Electronics Group, TimHazzard
Another area of YEG's expertise is power supplies, where
product choice needs tomeet electrical performance, size and thermalmanagement requirements as well as any applicable international standards. YEG has a range of suppliers to provide customers with choice, but there aremany cases where we go on to work closely with product and systemengineers to either adapt a standard product, or help design and build a full customsolution.
YEG is especially experienced in the professional audio industry,
where exceptionally low electrical noise, very high operational expectations and stringent safety standards often require a bespoke solution.
Of course, these are only a few examples. Othersmay seek to
add value in different ways, but in YEG's case it is achieved by focusing on specialist areas and by a personal touch service.
As a final thought: adding value does notmean higher prices.We
all work in a competitive environment and what we providemust be value formoney – to be successful adding valuemeans giving a better service at a competitive price.
www.youngelectronics.com www.electronics-sourcing.co.uk
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