Sourceability’s 5 New Year Resolutions

2023 is right around the corner and we at Sourceability have some resolutions to accomplish in the new year!

2022 has been a wild and exciting ride for us here at Sourceability! We’ve experienced a lot of growth and some amazing accomplishments throughout the year. As 2022 comes to an end we want to look back on what we’ve achieved.

This year Sourceability ranked #17 on SourceToday’s Top 50 Electronics Distributors. This is our first time making it into the Top 20 electronic component distributors. This feat was possible through a combined effort of our quality, logistics, and innovation that make up the backbone of our operations.  

Sourceability also gained recognition for our tremendous growth by earning a place on Inc. 5000 Fastest Growing Companies in America list. This prestigious ranking placed us among some of the most impressive private companies in America. Sourceability also became a silver sponsor for the organization, Women in Electronics, a community of women leaders aiming to support women within the electronics industry.  

Sourceability wasn’t the only one earning recognition either. Datalynq, Sourceability’s market intelligence tool, also won Best of Sensors Award for Data Acquisition and Analytics for 2022.  

Now that 2023 is right around the corner, Sourceability wants to hit the ground running into the possibilities of the new year. Here are our 5 New Years' Resolutions for 2023 and how we plan to support our amazing clients going forward.  

1. Pursue Career Ambitions

Sourceability is eager to continue pursuing our career ambitions in the electronic components industry. The best way to accomplish this is by raising our ranking in the Top 50 Electronics Distributors list by entering the Top 10.  

We made it into the Top 20 for the first time in 2022 at #17, with hard work by further providing support and value to our clients we can make 2023 our first year in the Top 10. It’s a lofty goal as we are working alongside some of the best distributors in the industry. We’ve done so much in our 7 years since being founded and we are eager to climb even higher.  

With the great team we have, we’re sure this goal will be reached.

2. Travel More

There is a whole wide world out there and we want to see it all! As of 2022, Sourceability has offices in 20 locations throughout the world. These offices are found all over the globe from Germany, Mexico, Taiwan, Singapore, India, the U.S., and more. Our staff of over 350+ comes from different backgrounds and cultures, which brings inspiration and unique views that fuel Sourceability’s innovation.  

In 2023, Sourceability can’t wait to indulge our wanderlust and “travel” to more extraordinary places. When we do, we plan to continue to add more remarkable members to our growing team from these new locations.

3. Improve "Fit"ness

We’ll be working on our fitness! Our version of hitting the gym might be a little different than the usual definition though. In 2023, we plan on helping our clients with form-fit-function (FFF) alternates for hard-to-find components.  

Shortage constraints are expected to continue throughout the upcoming year for specific industries and obsolescence management is a concern that isn’t disappearing anytime soon. To help you with these complex issues, we’ll be taking a big step in locating FFF alternates for your product lines.  

While we won’t be upping our deadlift max weight, our experts will be increasing the list of possible FFF alternates for your products.  

4. Save Money

Inflationary prices and average selling costs have been on the rise, and 2023 might be a tight one. That’s why we’re planning to tackle this common resolution by saving money for you! What do we mean by that? Well, we’re doing a few things to help everyone get a little monetary relief.  

Excess inventory is one of the easiest ways for you to lose money, especially after a shortage. Double ordering was common during the peak of the shortage and electronic components have a lifespan before their “best by” date comes and goes. Rather than lose money on an order you don’t need, Sourceability’s digital marketplace, Sourcengine, will sell your excess for you!

For those struggling with shortage constraints, Sourceability can still help you keep costs low. Suppliers that have excess inventory can sell through Sourcengine at discounted prices for buyers. If you aren’t ready to buy excess inventory that has been vetted by our experts don’t worry. If you’re a member of Sourcengine and joined our subscriber list, you can receive promo codes for deals on components!

Even though we hope to do more of this in 2023, you can already save money through these methods on Sourcengine right now.

5. Learn a New Skill

The new year is the best time to learn a new skill! The shortage turned the world upside down, but it also gave us some valuable lessons on how to mitigate future ones. Lack of information along the supply chain led to decreased visibility and transparency with caused miscommunication among original component manufacturers (OCMs) and original equipment manufacturers (OEMs).  

To prevent such catastrophic challenges from repeating in the future, access to information on market trends, possible unpredictable event occurrences, lead time forecasts, and more is necessary. It is hard for a team, let alone a person, to sort through this kind of data. Digitalization takes care of that tedious task by consolidating heavy amounts of data efficiently and automating processes.  

Sourceability wants to continue supporting more clients throughout 2023 move toward digitalization of their companies. Sourceability’s market intelligence tool, Datalynq, can help save time for supply chain professionals and others in the electronic component industry. Datalynq is a digital tool that provides quick results regarding component risk, obsolescence case management, predictive analysis, and more.  

We plan to continue updating our digital tool suite throughout 2023 so that you can digitalize your organization quickly and effectively. That way you can reap the benefits of digitalization, including reduced costs, boosted productivity, and reduced time waste.

From everyone here at Sourceability we can’t wait to see you all next year. Have a happy New Year!

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