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MacroFab, the cloud manufacturing platform for building electronics from prototype to high-scale production, with a network of more than 100+ factories across North America, has added new material sourcing options to their digital manufacturing platform. With this update, MacroFab's customers can seamlessly place orders and utilize hybrid component sourcing strategies, providing users a significant value add given that many electronic components are historically hard to source.
MacroFab's new functionality reduces the sourcing information traditionally needed to place an order; now customers need only to indicate the responsible party for sourcing a given part on their bill of materials–an attractive offering for customers looking to secure their place in the manufacturing line sooner.
"Historically, customers have found it easier and more cost-effective to have MacroFab procure their components for orders on a just-in-time turnkey basis, but recently, we've seen more and more customers wanting to employ a hybrid approach to material sourcing to reduce supply chain risk," said Joey Rodriguez, MacroFab's Vice President of Product. "This shift in customer behavior speaks to the volatility of the supply chain, and our new update provides a sustainable solution to this issue, allowing our customers to strategically secure component inventory months or years before their planned production and dynamically meet demand with a hybrid sourcing approach."
Over the past three years, MacroFab has seen a 115% average annual growth rate in customers supplying their strategic inventory of parts for builds, a key indicator of the true volatility of the current supply chain market and the need for more resilient supply chains. The new offering comes as OEMs navigate the pressure of bringing products to market as fast as possible in an ever-changing landscape.
MacroFab's electronics cloud manufacturing platform's automated quoting engine enables customers to self-serve and have access to its best-in-class distributed supply chain. In addition, the material sourcing flexibility provided by the new functionality will give customers more options to support better supply chain decisions while accessing MacroFab's manufacturing capabilities.
This enhancement arrives shortly after MacroFab announced $42 million in new growth capital led by Foundry, and joined by BMW i Ventures and existing investors Edison Partners and ATX Venture Partners. With this financing round, MacroFab has raised $82M, enabling the company to expand its product offerings and to provide customers enhanced visibility into their production.
