Global Purchasing Index
A monthly benchmark that gauges purchasing professionals’ views on procurement activity in the electronic components marketplace. A reading below 100 indicates pessimism; a reading above 100 indicates optimism.
Global Purchasing’s GPI up 2% in February
Business outlook improves among electronic component buyers, new report shows
Business confidence among electronic components buyers (view the current GPI panel members) grew in February, as Global Purchasing’s Global Purchasing Index rose 2% to a reading of 116.7.
Purchasing managers surveyed for this month’s GPI reported that new orders slowed slightly during the month, inventories and pricing remained the same, and that purchasing activity and lead times are increasing.
Comments from purchasing professionals surveyed in February indicate growing demand and longer lead times for electronic components.
“Our business has increased since last month, and materials overall are taking longer to obtain,” said one panelist.
“Increased sales activity after the holidays has led to an increase in bookings,” another panelist said.
Some panelists indicated a slight increase in pricing as well, though overall pricing remained stable for the month.
“We are seeing increased demand and shortages, longer lead times and slightly higher pricing to start Q1 2014,” another panelist said. “Bookings for February have already surpassed January’s at mid-month.”
Global Purchasing’s GPI measures purchasing professionals’ business confidence in five areas: new orders from customers; electronic component inventory levels; purchasing activity; pricing; and lead times. Global Purchasing compiles the GPI data monthly from a survey of more than 100 panel members who buy a wide range of electronic components. Prequalified for their industry experience, panel members are purchasing executives, managers, or buyers at original equipment manufacturing (OEM) or contract manufacturing firms around the world.
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