Smith & Associates Reports on Global and Market Expansion in 2011
Leading independent distributor continues strong momentum into 2012
HOUSTON – (January 25, 2012) – Smith & Associates, a leader in the independent distribution of semiconductors and electronic components, today announced significant organic growth in 2011, positioning the company as a clear leader in the component market. The strategic addition of three new global offices, a 25 percent increase in workforce, and the expansion of its successful service programs resulted in Smith reaching global annual revenue totaling US$513 million in 2011.
In 2011, Smith increased its workforce to 350 employees globally, and opened new offices in Singapore, Taipei, Taiwan and Denver, Colo. This expansion better positions Smith to serve its customers around the world. Continuing this corporate strategy, the company plans to add more global offices in 2012.
In addition to global expansion, Smith also expanded its flagship services. Smith's suite of services provides customized solutions to help businesses maximize the quality and stability of their inventory needs and safeguard against disruptions. Among those service programs that were expanded are:
- The PartBank Vendor Managed Inventory (VMI) program, which offers companies a fixed, cost-efficient source for managing inventory
- CycleIT, a secure and environmentally responsible asset disposition program
- The recently launched PPV Plus+ flexible cost-saving program, which helps customers find flexible ways of receiving high-quality components at the best price
"We live in a world where supply chain management is more critical than ever for electronics manufacturers' success," said Marc Barnhill, chief trading officer at Smith & Associates. "With a diversified, well-tested and quality-assured supply chain, manufacturers can withstand today's increasingly common market uncertainties with confidence. Smith has the industry experience and knowledge to offer companies immediate solutions to their short- and long-term needs. Our clients know that they can count on us for tested and certified products when they need them."
Smith's quality-first framework of programs and processes, SmithSecure, was also expanded in 2011, continuing the company's long-standing, staunch support of ensuring quality along the electronics supply chain. Smith further increased its leadership role against counterfeiting through the purchase of new, sophisticated, in-house, anti-counterfeiting laboratory equipment. In addition to the substantial investments and expansions in its anti-counterfeit lab equipment and inspectors' certifications, Smith was awarded a CCAP-101 certification, holding the company to a strict set of procedures for authenticating electronic components and ensuring product integrity. In turn, the standards for SmithSecure, the company's overarching testing, sourcing, service and industry-awareness quality initiative, have also been increased.
Within Smith, the corporate responsibility to the environment was also a focus. As part of a companywide campaign to become fully sustainable and carbon-neutral by 2020, Smith completed an environmentally based, energy-efficient structural renovation, a "greenovation," of its Houston headquarters. Smith was also named an "e-Stewards Enterprise" by the Basel Action Network, the world's only organization focused on confronting the global environmental injustice and economic inefficiency of toxic trade (toxic wastes, products and technologies) and its devastating impacts. The next phase of Smith's corporate sustainability campaign will be the "greenovation" of Smith's international offices.
Building upon the successes of 2011, Smith & Associates plans to further expand its service programs in 2012 to meet customer needs. Among the more immediate goals is Smith's diligent work toward earning an AS9120 quality management certification for aerospace product suppliers. More generally, Smith continues its pledge to providing leading commodity and market expertise through close industry monitoring and communication of findings through its MarketWatch updates and publications.
About Smith & Associates
Founded in Houston in 1984, Smith & Associates (www.smithweb.com) is a leader in the independent distribution of semiconductors and electronic components to electronics and high-tech manufacturers. Smith offers shortage sourcing for commodity and obsolete parts, innovative purchasing and inventory management solutions, redistribution of excess inventory, and component stocking for warranty and repair programs.
A privately held company, Smith & Associates employs more than 350 people worldwide, with annual revenue in excess of US$500 million. Smith's regional hubs in Houston, Hong Kong, and Amsterdam are ISO certified and IDEA compliant. In addition, sales and purchasing offices are located in Silicon Valley, Barcelona, Guadalajara, New York, Shanghai, Shenzhen, Seoul, Singapore, Taipei, and Denver. For more information or to reach a Smith representative 24 hours a day, please call: 1.800.HOUSTON or +1 713.430.3000
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For more information, contact:
Smith & Associates
V.P. of Marketing
Phone: +1 713.430.3000