As one of the fastest growing semiconductor companies, Velocity Electronics aims to help organizations walk hand-in-hand with the constant technological evolutions. As a semiconductor distribution company, Velocity Electronics understands the complexity of electronic component sourcing and works toward forming innovative solutions to simplify the process. A firm believer in the importance of partnerships, Velocity Electronics strives to assist its customers and clients navigate the electronics industry safely and comfortably.
As a global electronic component distributor, Velocity Electronics follows a customer-centric approach and focuses on its clients’ growth and needs. Current times require high-tech organizations to walk in step with rapid innovative changes. Velocity Electronics is on a mission to transform the electronics landscape to accelerate development and customer satisfaction.
Multiple factors affect the present electronic component sphere and hinder its growth, such as the onset of the global pandemic, lack of semiconductor components, consumer consumption patterns, logistics issues, inflation, and labor shortage. With various challenges blocking the market, unpredictability and uncertainty are at an all-time high. Velocity Electronics develops quick and unique customer-driven solutions to combat these obstacles. Keeping customer requirements and demands at the forefront, Velocity Electronics creates flexible and compatible solutions to regulate the supply chain, improve communication, and maintain transparency between buyers and suppliers.
Velocity offers global strategic solutions for existing and potential challenges in the semiconductor industry. Velocity Electronics’ first-rate global sourcing solution combines procurement, shipping, customs, inspections, warehousing, and enterprise resourcing planning on a single system to provide uninterrupted supply chains.
The company creates cost-efficient strategies by searching for EOL components that extend equipment lifespan. Velocity’s extensive network vets suppliers and supports renowned and leading industry counterfeit avoidance protocols, which helps its clients save money and resources. Velocity Electronics utilizes its proprietary Parts List Merger (PLM) tool with its commodity analysts and sourcing experts. PML strategizes supply partner relationships to instantly recognize and implement cost-saving opportunities on a client’s BOM.
Velocity integrates innovative supply chain operations, from procurement to global inspections and warehousing, to minimize additional expenses, such as total inventory cost and standard purchase rates. The semiconductor company reduces the Total Cost of Procurement (TCP) by delivering an arsenal of customized strategic tools and services, extended payment terms, and order scheduling.
The Austin, Texas-based company’s diverse range of regional and global sourcing hubs, inspection protocols, offices worldwide, flexible schedules, and scalable and agile solutions provide remote and instant high-quality sourcing to customers around the globe. Velocity Electronics has twenty-seven offices, three inspection centers, and over a dozen local specialists and professionals, making it a reliable and credible electronics component distributor in America, EMEA, and APAC.
With decades of experience, Velocity Electronics acknowledges and understands its partners’ needs, including verified electronics components that comply with regulatory policies and a quality-focused distributor meeting lead-time and pricing needs. Velocity Electronics’ team of specialists and experts provides solutions regarding 92 percent of global inventory and follows secure avoidance and detection protocols to reduce lead times and generate high-quality results.
Velocity Electronics assists its customers in staying up-to-date with industry and technological innovations. The company’s partnerships with its clients and vendors have equipped it with better insights to predict market shifts, supply chain uncertainties, and inventory organization needs. Velocity Electronics offers its clients and partners solutions well before time, avoiding potential challenges and crises. Additionally, the company realizes the downsides of excess inventory and helps its partners manage inventory and solve their problems, regardless of the market status.
“Most important is building relationships and creating partnerships, not transactions. When you understand your customer’s problems fundamentally and get to know them as real people, you’re better equipped to dive in and solve those problems,” said Kristofor Kelly, President and CEO of Velocity Electronics.
The US-based company helps its clients streamline operations by reducing or eliminating storage issues. Excess inventory is a financial and resource liability for organizations. Velocity provides detailed and comprehensive techniques that recover excess and obsolete capital and enhance material disposition services. It uses modern, advanced, and practical solutions like line item, LOT, and hybrid cash and consignments.
With its evolving and adaptable tools, Velocity reduces the financial strain and impact of managing extra inventory and write-downs. Velocity stores all products in secure, limited-access, ESD-certified, climate-controlled, and spacious (with over 55,000 square feet of area) centers in Austin, Amsterdam, and Singapore. Building multiple, extensive facilities for inventory storage minimizes inventory management rates and reduces procurement and inspection times.
With offices around America, Europe, and the Asia Pacific, Velocity’s team possesses the proper knowledge, tools, experience, and data required to invest time and resources in increasing supply chain security, conducting quality inspections, and receiving certifications. Velocity’s ‘behavior and values equal culture’ ideology drives it to take a transparent and customer-centered approach. Even though generating successful results is vital for Velocity, the company emphasizes the road to success rather than the end goal.
Velocity Electronics believes in achieving the desired results through solid values and behavior. By prioritizing team investment and encouragement, expanding opportunities, and professional development, Velocity creates a culture of mutual trust, respect, and loyalty, which prompts teams to invest in clients. Whether strategically managing the supply chain, organizing excess or obsolete inventory, sourcing, or cost reduction, Velocity Electronics views business as building relationships with clients and partners and understands their concerns and requirements on a core level to design customized and practical sourcing problems.
Ditching conventional working modes, Velocity does not limit itself to a static-line card, commodity group, or subset of brands. It molds its strategies and adapts to the current semiconductor landscape by providing flexible services. It designs methods and tools to improve costs by finding cost-friendly and scalable solutions for its clients. Velocity’s financial resources and flexible schedules allow the company to offer turnkey LTB (Last Time Buy) services that narrow the gap between component EOL (End of Life) and a product’s lifecycle, from procurement and inspection to distribution and back-end recovery.
After opening its first-class and high-quality inspection center in Singapore years ago, Velocity Electronics’ next steps involve strategizing and finding unique and innovative ways to enhance businesses and increase customer satisfaction. Velocity’s accomplishments, such as ranking #16 in Source Today’s Top 50 Distributors of 2022 list, are a testament to the company’s values, methods, and solutions that serve its clients around the globe.