You need a thin, flexible plastic hose that extends to the tip of the pick arm. Performance can be improved with some kind of shaped nozzle.
Run the hose to a vacuum pump, with a controlled valve (typically solenoid) in the middle.
When you want to pick something up, move the pick head to the component. Turn on the valve and wait a small amount of time.
When you want to drop something, turn off the valve, and again wait a small amount of time.