OnlineComponents.com and Luminovo Optimize Procurement Decision-Making
May 30, 2023
Find out how the partnership with American distributor OnlineComponents.com makes your sourcing process seamless, automated and collaborative.
May 2023, Phoenix, Arizona – OnlineComponents.com has partnered with Luminovo, the fastest growing software provider in the electronics industry. The collaboration will use Luminovo’s innovative software to better enable and optimize buyers’ procurement decisions when shopping for electronic components with OnlineComponents.com.
“We aim to design creative solutions for customers to make sure they’re getting the parts they need as seamlessly as possible. Collaborating with Luminovo is helping us do just that by optimizing the sourcing process to make our customers’ jobs a little easier”, said Jonathan Parker, VP of Strategic Accounts & Customer Success at OnlineComponents.com.
The OnlineComponents.com API (application programming interface) will be directly connected to Luminovo's flagship product, LumiQuote, providing real-time data updates on prices, delivery times, and product information to over 2,500,000 parts from more than 400 suppliers. This further optimizes the buyers’ sourcing process by integrating their contract prices into their bill of materials, automating the search for alternatives, offering compliance data, and simultaneously updating component data as soon as it changes.
OnlineComponents.com is a leading global authorized distributor of electronic components. Founded in 1999, OnlineComponents.com was created to provide a quick and convenient shopping experience for customers. The site features an inventory of over 400,000 in-stock parts from a selection of more than 400 premier brands, all while providing exceptional service.
Luminovo is building an Electronics Operating System based on smart algorithms and a collaborative approach to advance engineering and overhead processes of EMS providers, OEMs, and distributors. While sourcing processes are one part of this, Luminovo goes beyond this by rethinking the full quotation process, including material and production calculations. Luminovo's approach is lean and user-first, developing products based on real customer insights and creating a platform that is easy to use also for less specialized employees. Central workflows allow for everyone on the team to always be up-to-date, which leads to better collaboration. Automated processes clear time for more important tasks, which ultimately results in faster RfQ completion, more competitive prices, and increased customer satisfaction.