Premier Farnell 's Innovative And Forward Thinking Ways For Grow As A Company
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Premier Farnell Overview
Premier Farnell PLC was established in 1996. It is a leading multi-channel, high service distributor that supports engineers. The company has over 4,500 employees, operates in 36 countries and distributes its services, products and solutions throughout Europe, North America and Asia pacific. Companies within the Premier Farnell Group include element14 (trades in Europe), Newark element14 (trades in the US, Canada and Mexico), Farnell Newark (trades in Brazil), CadSoft, AVID Technologies, and Akron Brass. The companies’ sales increased by 1.68%, from 952m in 2013 to 968m in 2014 (Premier Farnell, 2015).
Premier Farnell’s Strategy incorporates the company’s innovative and forward thinking ways to…show more content… To develop sales internationally by following existing customers’ international needs and by developing local market sales” (Acal, 2015).
The electronics industry is forecasted to grow steady in the UK. According to AFDEC (manufacturers authorized distributor) group and ECSN (Electronic Components Supply Network) the market will grow between 0% and 3%, reaching its average point of 1.5% by 2015. The UK is a leader in the electronics industry. Their exports in the electronic industry were up to 50% in Germany, 44% in Italy, 38% in France, 35% in Asia, and 20 % in America. Moreover, the association’s analysis shows that the growth gives market value for 1.1 bn pounds with a Total Available Market (TAM) of 2.9 bn pounds in 2015 (Evans, 2014). The statistic below gives an overview of the revenue of the global electronics industry from 2013 to 2015, with a breakdown by region. It shows a growth in each region, and indicates an expected growth of a further 1% in Europe (Statista, 2015).
A segmental analysis of both companies has been undertaken to determine the sales performance of the different regions.
Premier Farnell has a global presence. The regional contribution towards sales in 2014 in comparison to the year before it increased by 1% in Europe and Asia Pacific and decreased by 1% in North