Reels or ammo packs of radial leaded components are loaded on the sequencer module, dispensed, and inserted in the PCB following the programmed sequence. Component dispensing heads remove components from the carrier tape and place them in component carrier clips located on the sequencer chain assembly. The sequencer chain assembly transports the components to the insertion area. While the components are on the sequencer chain assembly, the carrier tape is removed. The component transfer assembly transfers components from the sequencer chain assembly into the insertion head tooling. The insertion tooling guides the leads through the holes in the PC board. The cut and clinch unit cuts and then forms the leads, securing the component in the PC board.