Avnet, Inc. is a technology Business-to-business B2B distributor headquartered in Phoenix, Arizona. Electronics Supply & Manufacturing magazine reports that Avnet Inc., a Fortune 500 company, may be the world's largest franchised distributor of electronic components and subsystems. Avnet has 16 centers and locations in more than 34 countries.
Avnet provides technical services such as IC programming, connector and cable assembly, and tape-and-reel and customized packaging.
Industry analysts say the key to Avnet's long-term success is its supply chain management solutions, which include forecasting component demand, distribution management, Vendor Managed Inventory (VMI) and Just in Time delivery.
In the mid 1920's to the early 1930s, Avnet diversified by branching out into car radio kits and automobile assembly kits. In World War II Avnet made antennas for the U.S. armed forces. His son, Lester Avnet, joined the business at this time.
Avnet was incorporated in 1955. In 1956 a second connector assembly plant was opened in 1956 near Los Angeles for the aircraft industry. In 1959 the company went public on the American Stock Exchange. In the mid 60's Avnet briefly owned several record labels including Liberty Records and Blue Note. Over the next ten years Avnet expanded with several acquisitions in the new fields of semiconductors, relays, and potentiometers.
Charles Avnet's granddaughter, Cindi Avnet, is the Director of Music Placement for the company MusicSupervisor.com and is starting a music management company in 2008. She also formed a philanthropy group that throws music related charities for various non-profit organizations.
Charles Avnet's grandson Jon Avnet sold his shares in the family business to pursue a career in the movie industry, using those resources to produce the successful 1983 movie Risky Business, which made Tom Cruise a star.
Avnet has segments in several different industries. This list is incomplete.