Safe and Lead: How the Velocity Business Philosophy Impacts Component Management — And Your Bottom Line

Kristofor Kelly

October 17th, 2018

Velocity Electronics is a leading certified stocking distributor and provider of outsourced procurement services, specializing in the supply and material management of board-level electronic components for leading electronics manufacturers worldwide.

But what sets us apart from the competition?

In a crowded marketplace where supply chain fraud is all too common, we return again and again to two acronyms: SAFE and LEAD. These form the core of our business philosophy, are foundational to our culture, and drive every business decision.

SAFE: Secure, Aligned, Flexible, and Ethical

SAFE defines our code of conduct. It is embedded in our business operations and our component management systems, including procurement, processing, and distribution.

Secure. We take supply chain security seriously. Our real-time supplier rating system combined with our industry-leading inspection and counterfeit avoidance protocols ensure superior quality conformance. And our record is impeccable. Since the Congressional inquiry into counterfeit electronic parts in the DOD’s supply chain was completed in 2012, we have been granted preferred status. Over the last three years, we have passed 126 of 126 audits.

Aligned. Our business is aligned with the needs and interests of our partners. We have been hand-picked as a preferred and trusted supply chain partner across all major market verticals, including aerospace and defense, transportation, energy, medical, industrial, environmental, infrastructure, and consumer. And with locations around the globe, we provide regional support and fast delivery, no matter where our partners are located.

Flexible. We leverage our people, processes, and protocols to meet the needs of our partners. In many cases, we are able to increase payment terms by 32 days over the industry standard, reducing total cost of procurement and easing cash flow pressures. We can also schedule inventory shipments over twelve months, which can significantly reduce total cost of ownership.

Ethical. Through our rigorous supplier and inspection processes and seizure of non-conforming materials, we help our partners save by reducing the component-related cost of poor quality (COPQ). To date, we have protected over 2,000 end customers from non-conforming product. At the same time, this allows us to preserve the integrity of over 500 original component manufacturers (OCMs).

LEAD: Loyal, Enterprising, Adaptable, and Determined

LEAD defines our core values. It isn’t just a motto on the wall; it is how we do business. It is an integrated part of our recruitment and retention efforts, and a part of every team meeting and new employee training. Our team lives these values every day, and they dovetail perfectly with our code of conduct.

Loyal. We believe in doing what is right. We treat colleagues and partners with respect and inspire trust by aligning our words with our behaviors and actions.

Enterprising. We hold initiative, creativity, and personal responsibility in the highest regard. We work together, leveraging our individual and collective resources to solve the challenges faced by our company and our partners.

Adaptable. We thrive by listening to and learning from our business partners and each other. We rely on meaningful collaboration to achieve success and approach each and every challenge as an opportunity to deliver exceptional value.We value determination, innovation, and relentless dedication to our team and our mission while fostering a family spirit of connectedness that fuels us to be our best.

Determined. We value determination, innovation, and relentless dedication to our team and our mission while fostering a family spirit of connectedness that fuels us to be our best.

Electronics component management is a complex, time-consuming process. You need a partner who can not only supply board-level electronic components but who can also manage the procurement process, ensuring that the components you receive are of the highest quality and lowest total cost. We are a resource you can count on to help you manage the process efficiently and cost-effectively. We’d appreciate the opportunity to earn your trust and demonstrate our value to your procurement team. Please contact us to start the conversation.

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For Electronic Components Procurement, 4 Reasons to Make Velocity Your Partner

" SAFE, our code of conduct, and LEAD, our core values, not only define our business philosophy, but are embedded into our component management systems. "

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