Our success, reflected in our top ranking, has a lot to do with the confidence product manufacturers have in our people and our supply chain processes
Peabody, Mass. (PRWEB) May 28, 2008
Converge, a global supply chain partner for technology-driven companies, was named the largest independent distributor of electronic components by Purchasing magazine. Converge remained in the number one position for the second consecutive year with 2007 revenues of $365 million.
In a market beleaguered by pricing pressures in key commodities, Converge was able to grow its market share within the top five EMS providers by nearly 10 percent. In addition, Converge's service-based IT asset disposition and asset recovery businesses experienced tremendous growth of more than 100 percent.
"Our success, reflected in our top ranking, has a lot to do with the confidence product manufacturers have in our people and our supply chain processes," says Frank Cavallaro, CEO of Converge. "Competing exclusively on component pricing is a zero-sum game; we have always emphasized quality as our competitive edge. You will see even more evidence of that in 2008."
Overall sales volume for Converge increased in 2007 despite downward pricing trends in commodity electronics. According to Purchasing magazine, worldwide prices for memory and microprocessors declined 50 percent to 60 percent last year. Revenues for the top 10 independent distributors fell from about $2 billion in 2006 to about $1.92 billion in 2007.
Converge is a global supply chain partner for technology-driven companies. The organization's three business units are dedicated to just-in-time distribution of electronic components, comprehensive asset recovery services and secure IT asset disposition. Founded in 1980, Converge is headquartered in Peabody, Mass., and has offices in Austin, Texas; Columbus, Ohio; Irvine, Calif.; Singapore and Amsterdam, along with support centers throughout Europe, Asia and the Americas. For more information about Converge, visit http://www.converge.com.