Sourceability, a global distributor of electronic components and supply chain service provider, announced its latest global expansion plans, signaling steady growth under a newly appointed Chief Financial Officer. Amid volatile fluctuations in supply and demand for electronic components worldwide, the company will open its fourth global distribution warehouse in Budapest, Hungary this summer to shorten supply chains and support manufacturing customers in the European Union (EU) region.
By combining the expertise of global distribution with Sourcengine™, the leading e-commerce marketplace in the industry, the company works with the largest catalog of suppliers to provide the transparency, robust data, and speed that customers need for procurement. As a hub for storage, logistics and inspection, the addition of the Hungary warehouse is expected to have a global impact – relieving strain on supply chains supported by pre-existing distribution centers in Asia and North America. It will also allow the company to shorten lead times and simplify customs processes for customers shipping within the EU. Likewise, the new warehouse will help balance workflows from other regions as needed.
In addition to the new regional warehouse, Sourceability has welcomed Karl Pichler as the company’s new Chief Financial Officer. An industry veteran with over twenty years of experience, Pichler will pull from his past experience in the technology and academic realms to realign Sourceability’s financial infrastructure and steer the company in this next phase of its expansion. Prior to his role at Sourceability, Karl served as the Chief Financial Officer for Rackspace Technology for twelve years and led its initial public offering before taking on a new challenge as a professor of finance, where he worked to reinvigorate curriculums guiding a new generation of financial professionals.
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These announcements come on the heels of the company’s recent launch of its Excess Inventory Estimator. The free self-service tool allows customers the opportunity to quickly estimate the value of unused electronic components to recover their value and free up warehouse space in a time where volatile market conditions are increasing planning complexity.
“The addition of our new warehouse in Hungary gives us the ability to better serve our global customers and streamline efficiencies across the entire electronic components supply chain,” said Jens Gamperl, CEO and Founder of Sourceability. “As the company navigates the current environment and adapts to the needs of our customers, Karl Pichler’s experience with scaling and growing effective businesses makes him the perfect candidate to help us move into our next chapter.”
“The semiconductor industry is prone to cyclical swings, and we are dedicated to ensuring our customers are given the tools and resources they need to adapt, regardless of market conditions,” said Pichler. “It was impressive to see what Sourceability was able to do in the 2021/2022 shortage market, and we are excited to equally sharpen and apply our down-market strategies going into Q3 and Q4.”
For the second half of 2023, Sourceability‘s sights as a true supply chain service provider are set on continuing to create a seamless procurement process for manufacturers from part search to product delivery including QC testing, logistics, and inventory management. The company was recently recognized as a Fastest Growing Private Company in America by Inc. and will continue to present innovation as the foundation on which it scales.
SOURCE: PRNewswire