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Avnet SWOT & PESTLE Analysis

ID : 52548053| May 2019| 20 pages

COMPANY PROFILE -Avnet

Business Sector :Electronic components, Information Technology and Services

Operating Geography :America, Europe, Middle East, Africa and Asia/Pacific regions

About Avnet :

Avnet is a global technology solutions company with a broad network that delivers design, product, marketing and supply chain expertise for customers at each phase of the product life cycle. Founded in 1921 on New York City’s Radio Row, Avnet is headquartered in Phoenix, Arizona. As of 2019, Avnet has around 15400 employees in 125 locations with more than 1400 technology suppliers to serve 2.1 million customers across 140 countries.
Avnet supports customers of all sizes, entrepreneur to an enterprise, at each phase of the product lifecycle with a wide ecosystem and portfolio of design and supply chain services. The company has deep expertise in design and engineering, with broad line distribution and integration capabilities and services, Avnet is a uniquely positioned technology solutions provider that can meet critical market needs for customers globally while helping them reduce risk and lower costs. Avnet partners with the most innovative technology suppliers in the world, putting Avnet at the forefront when it comes to electronic components and integrated solutions for automotive, communications, healthcare, industrial, military and aerospace, safety, wearable, and other markets.
The company ranked 128 on the fortune 500 (U.S) in 2018. Avnet is a wide network of owned companies, services, solutions, and technology partner. The company provides Electronic components, Design and Manufacturing services, Supply chain solutions, integrated solutions, Premier Farnell, and communities or large collaborative network. The company was named the world’s most ethical company by Ethisphere Institute in 2014,2015,2016,2017 and 2018.

Avnet Revenue :


$19,036.9 million – FY ending June30, 2018 ( y-o-y growth 9.15%)
$17,440.0 million – FY ending July 1, 2017

Competitive Analysis of Avnet

SWOT
PESTLE
The SWOT analysis for Avnet is presented below:
Strengths
Weaknesses
1. Strong Brand Perception.
2. Large distribution network and wide reach of Avnet.
3. Product and Technology Innovation.
4. Successful merger and Acquisition.
1. Deterioration in the capabilities of acquired assets to generate cash flows.
2. Need to overhaul its global IT system and implement a global ERP system.
Opportunities
Threats
1. Advancement in Technology.
2. Reduction of sales tax on shipping.
3. Population Growth.
4. Opportunities in building innovation solutions in the fields of industrial automation, medical and security.
1. Business in a highly competitive sector impedes growth pace.
2. Failure to maintain or develop new relationship with key suppliers.
3. U.S china Tariff Trade war.
4. Exposure to currency fluctuations in volatile political climate around the world.
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Detailed SWOT Analysis of Avnet

 

Strength

1. Strong Brand Perception: Avnet has invested in building a strong portfolio of brands over the years. The company is ranked #128 on the fortune 500 (U.S) in 2018. It also ranked in the top 10 for 2018 Gartner supply chain top 25 – High-Tech industry category. The company was named as World’s most ethical company by Ethisphere Institute in 2014, 2015, 2016, 2017, and 2018. Avnet ships on average 122B units annually. Since 1991 the company had 100 Acquisitions and the company has more than 1 million community members. In 2019 Fortune magazine named Avnet among the World’s Most Admired Companies. This was the 14th time that Avnet the global technology solutions provider has been recognized by Fortune for its strong brand reputation. This strong reputation of Avnet is due to its core values which inspire to evolve, transform and deliver innovative technology solutions that enable the companies around the world to succeed.
The company brings new innovation to market faster, easier and at an economic cost. It’s because of their commitment to customers, suppliers, shareholders, and employees that they are admired so much. Avnet is named top 10 international branded distributors for the 17th year. Avnet Singapore won 2017 Best Distributor Xilinx Dedicated FAE Award for Xilinx Channel Taiwan and ASEAN Region FAE Award. Avnet was honored in a row with 13 IP&E Supplier Awards. Avnet receives the year's award for semiconductor distribution from Vishay. From TDK-Lambda America, Avnet receives team and individual accolades.

2. Large distribution network and wide reach of Avnet: Over the years Avnet has built a reliable distribution network that can reach a majority of the potential market. The technology giant works with over 1,400 technology suppliers to serve 2.1 million customers in more than 140 countries. The company is headquartered at Phoenix, Arizona but their sales locations are distributed in 301 locations around the world for example in the United States, Australia, Brazil, Canada etc. The company’s Non-US portion locations represent a significant portion of its sales. During Fiscal year 2018, 2017 and 2016 approximately 76%, 72% and 73% respectively of the company’s sales came from its operation outside U.S. One million members joined online communities’ element14.com and Hackster.io to learn and exchange product ideas of each other in Avnet in order to create the world’s largest network of engineers, entrepreneurs and developers. Element14 and Hackster help developers of products around the world get their work done faster and more efficiently. Instead of searching for answers from multiple sources, members turn to Avnet communities for consolidated information on new technologies and access to experts. Element14 (as part of Premier Farnell) and Hackster.io were acquired by Avnet in 2016. Since then, the two online communities have continued to grow rapidly as advances in technology such as IoT introduce more learning opportunities and complexity into the process of product development. Combined membership grew by about 48% year-on-year.

3. Product and Technology Innovation: Avnet will bring the Internet of Things (IoT) technology to life during CES 2019 by combining unique hardware, software and cloud connectivity solutions. The leading global provider of technology solutions will introduce enhanced end - to - end IoT capabilities that accelerate customer prototyping and development of IoT solutions, deliver artificial intelligence (AI) at the edge and provide a customized Raspberry Pi-powered device for applications requiring strong end - to - end security. Avnet is offering innovative music that is not-an-impossible device for deaf and hearing fans. This is a wearable device developed with not impossible labs at Avnet to experience live music in a new way. The company is offering IoT technology solutions in a market through products, services, and expertise, and will demonstrate the technology like Avnet Azure Sphere MT3620 Starter Kit, Avnet SmartEdge Agile, Avnet SmartEdge Industrial IoT Gateway, and Music: Not Impossible, Developer Communities, and Educational Resource at CES 2019.
Back in 2016, Avnet launched an innovation laboratory with Arizona State University. The innovation laboratory was designed to stimulate economic growth in the technology sector and enable aspiring entrepreneurs to advance their innovations. The laboratory provides critical business advice and support to entrepreneurs developing new technology, particularly inventions that make the world a better place.

The remaining section of “Strength” is available only in the 'Complete Report' on purchase.

Weakness

This section is available only in the 'Complete Report' on purchase.

Opportunity

This section is available only in the 'Complete Report' on purchase.

Threat

This section is available only in the 'Complete Report' on purchase.

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TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
References used in Avnet Analysis Report

1. Avnet About Us - https://www.avnet.com/wps/portal/us/about-avnet/locations-contact-us/

2. Avnet Fact Sheet - https://news.avnet.com/sites/avnet.newshq.businesswire.com/files/doc_library/file/Avnet-Fact-Sheet.pdf

3. Avnet Annual Report - https://ir.avnet.com/annual-reports-and-proxies

4. Around 89 lakh skilled workers will be required in electronics and hardware sector by 2022: NSDC Report - https://economictimes.indiatimes.com/jobs/around-89-lakh-skilled-workers-will-be-required-in-electronics-and-hardware-sector-by-2022-nsdc-report/articleshow/49569624.cms

5. Stronger Patents Act Introduced in House, Seeks to Strengthen a Crippled Patent System - https://www.ipwatchdog.com/2018/03/26/stronger-patents-act-house/id=95188/

Copyrights and Disclaimer

Avnet SWOT and PESTLE analysis has been conducted by Suparna Chakraborty and reviewed by senior analysts from Barakaat Consulting.

Copyright of Avnet SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.

Avnet SWOT & PESTLE Analysis
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