How Are Distributors Adapting to The Internet of Things?
The impact of the Internet of Things (IoT) is being felt across every industry, and electronics manufacture is no exception. Connected technology is changing how we interact with our electronics, but just as significantly, it’s also changing how these electronics are being made.
Electronics distributors make products and services available for consumption, and many are optimistic that current high demand for connected electronics will continue to grow. Meeting this demand will mean adapting to emerging IoT technologies, and as has become increasingly evident, this future is rapidly becoming the present.
Over the next few weeks, the BCD Blog will be covering the ways that the world’s top-ranked distributors—Arrow Electronics, Avnet, WPG Americas, and Future Electronics—have remained competitive in the dynamic IoT landscape. We’ll also study why they’ve benefitted from IoT and how they have implement this technology into ongoing business development.
We’re starting off with Future Electronics, which for the last several years has been ranked fourth globally in component sales. Now one of Quebec’s largest privately-owned companies, Future was founded in 1968 by Robert Miller, whose estimated net worth is now almost $3 billion. With 169 locations across the world, Future is diversifying its services as it continues expanding across Asia.
Future is also diving headfirst into connected technology. Focusing on “technology integration,” Future Connectivity Solutions seeks to harness emerging technologies—such as embedded and module solutions—to enhance efficiency and productivity. Remote and predictive diagnostics, environmental monitoring, inventory tracking, and moment-to-moment delivery information are just a few of the new capabilities that connected technology fosters.
The impact these changes will have on Future are significant not only because of the company’s size and influence, but because of how important distributors are to the manufacturing process industry-wide.
“Distributors play a vital role in keeping the lines between manufacturers and users operating smoothly,” writes Marcus W. Pillion.
Harnessing IoT to enhance the distribution network will directly affect the efficiency and cost-effectiveness of the distribution process. Whether Future will be able to weather the challenges of this new ecosystem remains to be seen, but its confident entry into this new ecosystem is nothing if not promising.