1. Established in 1999, WIN SOURCE has been acquiring authentic common-used parts at competitive prices. Share with us about Win SOURCE’s achievements and goals.
We are honored to be continuously recognized by Source today as a TOP Electronic Component Distributor, one of the TOP 10 in Asia in 2022, and 18th in the TOP 50 Global Electronic Component Distributors in 2023, which reinforces our commitment to providing outstanding supply chain solutions and building trustworthy partnerships with our customers around the world. WIN SOURCE's goal is to be the preferred partner in electronic component sourcing and supply chain management by providing quality product selection, fast delivery, and excellent customer service, and to actively promote environmentally friendly business practices based on sustainability and social responsibility.
2. How does WIN SOURCE adhere to the excellent quality of electronic components and how does it differ from other supply and chain management?
WIN SOURCE has always insisted on excellent quality, which is a greater test of the distributor's expertise and management ability than other supply chain management. WIN SOURCE has unique advantages and characteristics in insisting on the excellent quality of electronic components.
WIN SOURCE strictly selects and establishes long-term partnerships with reliable electronic component manufacturers and distributors around the world, who have a good reputation and strict quality control standards. By working closely with these suppliers, WIN SOURCE can obtain certified and rigorously screened original components to ensure their quality and reliability.
WIN SOURCE has implemented a strict quality management system. We have a dedicated quality control team that oversees quality standards and processes throughout the supply chain. Through supplier audits and evaluations, product testing, and quality inspections, we can ensure that our products meet high-quality standards before shipment. This stringent quality control helps to minimize the risk of product quality problems and provide more reliable products to our customers.
WIN SOURCE highly values customer feedback and complaints. We have established an effective customer service system to respond positively to customer needs and problems. WIN SOURCE focuses on working with customers to solve problems and provide satisfactory solutions. We recognize the voice of the customer as an important guide to improving and enhancing the quality of our products.
WIN SOURCE continuously improves the professionalism and quality awareness of our team through employee training and education. Each employee is made aware of the importance of pursuing quality excellence and is given the responsibility to follow best quality practices. This transfer of culture and values enables WIN SOURCE to provide products and services with greater attention to quality details and customer needs.
3. What are the demands in electronic components currently? How does WIN SOURCE cater to this and keep up with the current trends?
As a large global distributor of electronic components, WIN SOURCE pays close attention to the current needs and trends in the electronic components market. We strive to meet the needs of our customers and ensure that we keep up with the latest developments in the industry.
In the current market, we understand the following needs:
Innovation and new technologies have always been the focus of the market. As technology continues to develop and advance, the market demand for new electronic components and innovative technologies continues to grow. This includes new chip designs, high-performance sensors, advanced communication modules, energy efficiency enhancements, and more. We have established partnerships with a variety of innovative chip manufacturers, sensor technology companies, and others to ensure that we can offer the latest technologies and products. This enables us to meet our customers' needs for new electronic components and innovative technologies.
In various industry sectors, such as automotive, medical, and industrial, the reliability and quality of electronic components is highly demanded. A stable supply chain, products that meet quality standards, and reliable performance are key, and WIN SOURCE's focus on reliability and quality requirements consistently comes first. We have established long-term relationships with reliable manufacturers and suppliers to ensure that the electronic components we supply meet high-quality standards. Through stable supply chain management, we ensure continuity of product supply to meet our customers' high requirements for reliability and quality.
In addition, we recognize the importance of miniaturization and lightweight in the market. With the popularity of mobile devices and portable electronics, customer demand for miniaturized and lightweight electronic components is increasing. As a result, we are committed to providing products such as thin displays, miniature sensors, and compact batteries to meet customer needs.
At the same time, the demand for environmentally friendly electronic components and sustainable solutions is increasing against the backdrop of growing global attention to environmental issues. This includes low-power chips, renewable energy technologies, recycling solutions, etc. WIN SOURCE actively promotes the development and supply of environmentally friendly electronic components, including low-power chips and renewable energy technologies. We are committed to providing solutions that meet sustainability standards to fulfill our customers' needs for environmentally friendly products.
By collaborating with innovative suppliers, stabilizing supply chain management, strengthening R&D and testing capabilities, and focusing on sustainability, WIN SOURCE is committed to meeting our customers' needs for electronic components and keeping pace with current market trends. We continually strive to offer competitive products and provide superior solutions to our customers.
4. The manufacturing industry experienced significant turmoil in 2022 due to high inflation and hybrid working. As WIN SOURCE specializes in doing business online, how does WIN SOURCE benefit from this?
Unfortunately, our entire broader market environment has experienced turbulence over the past 2022 due to inflation and uncertainty, WIN SOURCE has stood its ground as an experienced company, focusing on its online business to continually reduce costs and increase profitability to continually benefit our customers while also allowing WIN SOURCE to benefit from this turbulence.
Inflation increases costs for traditional manufacturing companies, however WIN SOURCE, as an online business, has less need for physical infrastructure and may be less vulnerable to inflation-driven price increases. In addition, WIN SOURCE's commitment to a digital strategy has helped us to reduce our overhead costs. We understand that uncertainties such as epidemics can lead to work interruptions, geographic constraints, and issues involving supply chain disruptions, however, our comprehensive digital system not only supports collaboration internally but also supports our customers to find products quickly and cost-effectively from around the globe through our digital system.
In response to changing circumstances, we have adopted the principle of proximity warehousing to bring stock security to our customers across the globe, ensuring business continuity, increasing supply chain resilience, and minimizing disruption caused by turbulence, all of which have not only helped WIN SOURCE to be recognized by our customers across the globe, but have also enabled us to take our service to the next level, with our sales surpassing 3.89% by 2022, and our sales increasing by 4.5% by 2022. In 2022, our sales exceeded $389 million, and we were recognized by Sourcetaday as the Asia-Pacific region's Top #2 electronic component distributor, and in 2023, we exceeded $613 million, and we were recognized as the world's Top #18 electronic component distributor.
5. How do you see the growth and demand for electronic components in Malaysia? What is your view on this?
The electronic components market in Malaysia is expected to grow at a CAGR of 4.4% during the forecast period from 2020 to 2026. Increasing demand for consumer electronics, rising disposable income, and expanding industrial sector are some of the major factors driving the growth of this market in Malaysia. Moreover, government initiatives such as the Digital Free Trade Zone (DFTZ) have paved the way for Malaysian manufacturers to export their products globally at a lower cost and time. Increasing investment by foreign companies to set up manufacturing facilities across the country has also enhanced the growth prospects of the market, COVID-19 pandemic after the business activities of all industries including the automotive industry will be back on track, which requires a large number of electronic components every year from the Malaysian mainland or foreign suppliers such as China and Japan, which also reflects the value of these global electronic components like WIN SOURCE This also demonstrates the value of global electronic component distributors like WIN SOURCE, we can provide a one-stop sourcing platform to shorten the procurement time and provide security of supply for the growth of the market, and at the same time, we have to continuously optimize our level of service, to help optimize the semiconductor supply chain for our customers from all over the world.