Sourcengine to expand mass market access to Renesas' extensive portfolio using transformative online platform

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MIAMI, Nov. 3, 2021 /PRNewswire/ -- Sourcengine, the electronic component industry's leading e-commerce marketplace, today announced a broad range of products from Renesas, a premier supplier of advanced semiconductor solutions, are now available directly on its platform. This agreement advances Sourcengine on its journey to digitalize component procurement by adding a powerhouse in the electronics space to its roster while benefitting Renesas by making its parts more available to an expanded audience of purchasers.

"As Renesas continues its growth strategy in the mass market, the need to reach more customers through alternative online sources becomes more important," said Chris Allexandre, Senior Vice President of the IoT and Infrastructure Business Unit at Renesas. "The Sourcengine platform advances our ability to serve broad market customers by expanding beyond traditional methods of procurement to make online marketplace buying as simple and efficient as possible."

Sourcengine aims to empower electronic component purchasers with e-commerce functionality that provides new market insights and streamlines purchasing and procurement. Suppliers like Renesas are a critical part of this equation as the global demand for its parts helps fuel the market overall. This makes the relationship between Sourcengine and Renesas mutually beneficial as Sourcengine expands its roster of highly coveted components and Renesas becomes more available to purchasers globally.

"Renesas' wide variety of industry-leading microcontrollers, analog, power, and connectivity solutions is a key addition for us as they continue to move the industry forward with their advanced technology," said Jens Gamperl, CEO of Sourceability. "We're thrilled to be able to expand our available inventory and provide our customers access to the amazing Renesas portfolio, while also helping Renesas expose its offerings to a broader, forward-looking group of purchasers."

As part of its efforts to evolve component procurement to a marketplace standard, Sourcengine has built a number of tools simplify the purchasing process for the electronics industry:

• BOM (Bill of Materials) Tool allows any user to upload a parts list, receive instant quotes from thousands of traceable suppliers, and make a purchase all in one place. While anyone can use the BOM Tool, user registration unlocks its full capacity, including the ability to get quotes for up to 4,000 line items.
• Quote It RFQ tool that leverages the negotiation power and expertise of Sourcengine experts to find additional stock and better pricing.
• Integration of the BOM and Quote It tools allows users to send select quotes returned via the BOM Tool to Quote It for additional negotiation.
• Quantity Multiplier function simplifies the purchasing process for user personas such as engineers and NPI buyers by allowing them to upload BOMs which are curated to account for the same part numbers being used more than one time on the design board.

About Sourcengine
Sourcengine is the electronic component industry's leading e-commerce marketplace helping the world's largest OEMs and suppliers source, negotiate and purchase on one platform. It is powered by more than 3,000 suppliers, 550 million+ parts, billions of datapoints and unmatched quality assurance and traceability, which allows Sourcengine to remove the biggest barriers holding the supply chain from the digital age. Sourcengine is backed by Sourceability, a global technology company transforming the way businesses bring products to market through a digitalized supply chain.

SOURCE Sourcengine