A component placement apparatus includes: a tray storing device having slots for storing trays, a tray transporting device for transporting a tray from the tray storing device to a pickup area, a controller for controlling the transport of the trays into and out of the tray storing device, and at least one component pickup and placement device for picking-up a component in a tray located in the pickup area and placing the component on a substrate. The tray storing device includes first and second parts located proximal and distal the pickup area, respectively. The first part stores trays (i) from which at least one component may be removed and/or (ii) that are expected to be needed at the pickup area in the short term. The second part stores trays, which are empty, full, or are not expected to be needed in the pickup area in the short term.