Do you want to create a product development lifecycle that features structured processes, reduces the risk of error and is repeatable? If so, you might want to consider investing in a BOM (bill of materials) management tool. This happens to be a great step in the right direction.
However, it is not necessarily easy to find the right solution for your business. Therefore, below is a compilation of important features, details and components that might be of help when you decide to when decide to manage your BOM.
It is important for any business that wants to introduce new software into the product development lifecycle to consider the cost. Most times, would-be buyers are scared away by the assumed high cost of traditional enterprise software. In some cases this could be true, but you need to factor in the Return On Investment (ROI) potential for reduced scrap and higher quality software.
For instance, Excel which might seem like an easy and low cost option does not offer most of the key features that make BOM management tools shine. It is evident that the cost of Excel user licenses, might be lower but this will end up costing you more money in errors, rework and lost time.
When it comes to choosing the right BOM management tools consider the ones that can recalculate the totals for weight values or costs. These will enable you to notice when a change will have a dramatic effect as soon as possible. When there is no visibility, a new assembly might end up adding too much weight to a piece of lightweight technology. In turn, this will force the manufacturer to go back and rework in order to find a solution.
Security is one of the main key features you should consider when choosing BOM management tools. It is of utmost importance that you keep your data safe from prying eyes. However, there are might be companies that you let see your BOM i.e. members of your supply chain and contract manufactures.
A good BOM management tool will provide the BOM’s contextual views which can then be shared among your partners. The management tool should give them the visibility of only what they require to get the job done. We live in a time where trade secrets is a major concern to most companies. Therefore, it might not hurt to ensure that your supply chain is properly locked down.
As technology advances, more companies find it necessary for a collaboration between offices in different locations or countries. It might even be with stakeholders who need to stay connected while they travel across the globe. You should chose a solution that permits access to the BOM from anywhere in the world at any time. It should also be accessible from various device. This will allow for collaboration and innovation to run smoothly without any roadblocks along the way.
The list of key considerations when it comes to choosing the right BOM Management Tool is endless. However, being aware of some of them might help your business become more productive.