Frost & Sullivan Recognises RS Components' Strong Online Distribution Channel in the GP Test Equipment Market RS Components excels in on-time delivery of products, made possible through a well-stocked inventory
LONDON, Sept. 24, 2013 /PRNewswire/ -- Based on its recent research on the European market for general purpose (GP) test equipment, Frost & Sullivan presents RS Components (RS), the trading brand of Electrocomponents plc (LSE:ECM), a leading high service distributor of electronics and maintenance products, with the 2013 European Customer Service Leadership Award.
RS sets itself apart from the competition through its unmatched skills in inventory management and its ability to ensure quick and on-time product delivery. The company has gained a reputation for delivering large orders within just 24 hours, predominantly facilitated by the company's large and well-stocked inventory.
"RS's highly efficient supply chain management department keeps track of the inventory using best-in-class tools," said Frost & Sullivan Industry Director Jessy Cavazos. "This method ensures the availability of all products and the company also continuously improves the efficiency of this process to reduce the inventory of obsolete products."
Frost & Sullivan expects online channels to grow in importance in the GP test equipment market. Customers are drawn to this distribution channel for its 'anytime-anywhere' convenience of purchase. In 2010, online channels accounted for 21 per cent of electronic retail sales, and this is expected to reach 55 per cent in 2020. Acknowledging this trend, RS maintains an informative and user-friendly website (www.uk.rs-online.com), which offers a complete list of its inventory.
In addition to electronic invoicing, the company's website offers advanced services such as procurement solutions. Using this service, customers can select the products they wish to purchase on the website, and then take their whole shopping cart to their own system for their internal approval processes. Once the order is approved, they can send it to RS in the format of their choice. Owing to its user-friendly website, RS generates over 60 per cent of its revenues online in Europe.
Online distribution channels have several other important advantages, especially in a cost-sensitive market. As test and measurement equipment or instruments are generally expensive, customers prefer to spend less on associated services such as installation and calibration. Keeping this in mind, RS offers these services as a package with the products.
The company follows a business-to-business model, serving large electronics and manufacturing companies across the globe. It has regional offices across all its major geographic markets, which employ local people, thereby fostering close customer relations. RS also offers its customers the flexibility to access its technical support team through either live chats on its website or through a technical helpline.
To ensure maximum customer satisfaction, RS also conducts annual global customer satisfaction surveys, which allow it to compare its performance and customer satisfaction levels across different geographic markets.
"With a strong commitment to addressing customer requirements, along with its dedication to continuously enhancing its internal processes to boost customer value, RS has succeeded in offering high price-performance value to its global customers," noted Cavazos.
Frost & Sullivan presents this award to companies that have demonstrated outstanding timeliness and quality in offering a service. The award acknowledges the attractive cost of service and the impact of the offering on customer value.
"We're honoured to receive this award which recognises our leadership in customer service," said Klaus Göldenbot, Global Sales Director at Electrocomponents. "We work closely with our customers to provide them with relevant solutions, services and support to help them do their jobs more effectively thereby delivering an effortless customer experience.. We believe in adding value through the human touch and are proud of our local sales and customer service presence. This award is testament to the continued efforts of our employees to put the customer first."
Frost & Sullivan's Best Practices Awards recognise companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About RS Components
RS Components and Allied Electronics are the trading brands of Electrocomponents plc, the world's leading high service distributor of electronics and maintenance products. With operations in 32 countries, we offer more than 550,000 products through the internet, catalogues and at trade counters to over one million customers, shipping around 44,000 parcels a day. Our products, sourced from 2,500 leading suppliers, include electronics, automation and control, test and measurement, electrical and mechanical components.
Electrocomponents is listed on the London Stock Exchange and in the last financial year ended 31 March 2013 had revenues of £1.24bn.
For more information, please visit the website at www.uk.rs-online.com
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SOURCE Frost & Sullivan