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At Component Sense, we know a lot about the grey market. We are technically part of it, after all. Many electronic component buyers do not understand the different shades of the grey market. It is certainly not black and white.
A study by MIT Sloan and BCG found that although 90% of executives find sustainability important, only 60% of companies incorporate it into their business strategy. This stark statistic highlights how difficult it is to motivate business leaders to make changes for the benefit of the environment.
When assessing how the electronics industry impacts the natural world, many use the terms ‘double-edged sword’ or ‘necessary evil’. Staking a claim as one of the global economy’s largest industrial sectors, what we produce in our electronics industry can cause damage but also do a lot of good. This blog will look at both sides of the coin and the importance of corporate social responsibility.
Many electronic manufacturers put excess and obsolete (E&O) component stock in the ‘too-hard’ basket. These companies are missing out on an extra revenue stream. Plus, failure to act means they are contributing to global electronic waste (e-waste) pollution.
The e-waste produced worldwide each year is worth over $62.5 billion. A tonne of e-waste contains 100 times more gold than a tonne of gold ore. Gold is just one of many precious metals used in microchips.
There is money to be made with excess inventory, so where are companies going wrong?
You may have heard of quiet quitting, but what about climate quitting? If this phrase is new to your vocabulary, you are not alone. Climate quitting was only coined about a year ago and gained popularity after COP28. This new movement should be on the radar of electronic manufacturers that want to attract and keep top talent.
