Manage risk related to electronic component sourcing process
Every smartphone is built of approximately 1500 electronic components. Manufacturing companies like Apple and Samsung need to source those parts worldwide. This takes place in the electornic component market, worth around 220 Billion $ is extremely costly and risky. The high costs derive from the in-transparency of the market. The risk comes from cases of part shortages. In such cases Apple might not be able to answer market demand and lose clients. Pin-2-Pin are working on a revolutionary solution by building an objective data and price comparison platform. This will increase the transparency of the market, help smaller manufacturers enter the playground and hence lower both costs and risks. Apple and other manufacturing companies (OEM) can then compare all alternatives available on the market, including smaller component manufacturer and pick the best one for them. Pin2Pins mission is to lower material costs, reducing material costs by 10% translates to increase 20% increase in total revenue.