Renowned aerospace manufacturer and engineering services provider Honeywell International Inc. has selected Partstat to manage last time buys and improve business continuity as it relates to their products.
After many years of managing critical last time buys in-house, Honeywell has agreed to a Partstat Last Time Buy Solution that will ensure the lifecycle of their products, while taking advantage of the many benefits the solution offers customers such as preserved working capital, long-term vault storage, and worldwide fulfillment services on a customized delivery schedule.
Honeywell products are known for their quality and endurance, and many are designed to be relied upon for well over 10 years. To maintain the integrity of such extensive lifecycles, obsolescence is a regular concern, especially as the lifecycles of critical electronic components continue to shorten.
In the event a last time buy can not be made, it typically results in the decision to move forward with a product redesign. Not only is such a decision costly, but due to the significant time redesigns take to comply with stringent FAA regulations, it can be a process that takes years to complete. Such time also significantly increases inventory carrying costs, as inventory must remain on-site, tying up already limited storage space.
Partstat’s infrastructure is certified under ISO:9001-2015 and the aerospace certification AS9120B, and their long-term storage infrastructure has proven suitable for even the most sensitive electronic components and semiconductors. Since the Solution’s inception, Partstat has purchased and stored over $100 million of last time buy inventory on behalf of customers, direct from component manufacturers before the Last Time Buy date.
Before finalizing the agreement, Partstat welcomed Honeywell to their corporate headquarters in Winter Springs, FL, to experience firsthand the company’s unique infrastructure designed specifically for the handling, storage, and fulfillment of sensitive, irreplaceable electronics. The Partstat Custom Storage Vault, rated “Best in Class” for component and raw material storage, and Partstat’s Dry Cabinets, designed for the preservation of moisture-sensitive die and wafer, are integral to this state-of-the-art infrastructure. Partstat’s highly experienced staff receive extensive training and are experts in inspection, ESD, and MSL packaging protocols .
“Our solutions are provided for companies in industries ranging from healthcare, to computer tech, to aerospace. We are honored to assist Honeywell in providing innovative, reliable products and services to their customers, and look forward to a long and productive relationship.” – Dennis Menefee, President & CEO of Partstat.