5 Criterions to Consider When Choosing a BOM Management Software
June 30, 2022
Managing projects while meeting the deadline is always a herculean task for developers and manufacturers alike. Most manufacturers are grappling with speed and agility in the face of growing numbers of product options and variants. Homegrown tools and processes make it very challenging to find and ensure traceability and associativity of the right product information. Although carrying out the manufacturing of products appears to be hectic and cumbersome, these problems can be curbed by adopting a parts-centric approach to managing their bill of materials, manufacturers can bring collaboration among distinct departments starting from the point of product ideation through various levels like manufacturing, device connectivity, and field service. Therefore having proper BOM management software is of utmost importance.
What is BOM(Bill of Materials)?
Completing a bill of materials or BOM is a vital step in manufacturing. Also referred to as an assembly component list, product structure, or product recipe. A BOM is a structured, comprehensive inventory of the raw materials, assemblies, subassemblies, documents, drawings, parts, and components, as well as the quantities of each needed to manufacture a product. The BOM can be treated as a recipe management software that is used to create a finished product that is presented in a hierarchical format. The finished product resides at the top, then comes the subassemblies, and below those are the various parts and materials which will be required to make the complete product. This includes details like part names, numbers, descriptions, and the quantities needed.
A BOM also includes instructions for procuring raw materials and their usage. BOM acts as a blueprint of the product, all manufacturers building products, regardless of their industry, get started by creating a bill of materials (BOM).BOM allows collaboration among all the departments within an organization which is somehow related to the development of the new product because it efficiently pulls all sorts of data together and allows these departments to work over the product information collectively. It helps organizations plan purchases of materials, estimate costs, plan for and control inventory and minimize production delays and waste.
Why BOM Management is Important for Companies?
BOM management software solutions are must to have for any manufacturing industry that is planning to deliver a product of excellent quality. In fact, in today’s times, your product has a very less chance of standing without a BOM. It examines the overall process of a product starting from providing all the information regarding the product in a single place to enable manufacturers to collaborate effectively around the product and ensures sharing of updated data between departments so that every person can stay on the same page. It also mitigates complexity in data, processes, and systems to maintain the high quality of products and reduces the time to hit the market.
Hence, a suitably optimized BOM management software can work wonders for your product and industry.
5 Major Benefits of Employing BOM management software
Manufacturers can avail of several benefits by undergoing a complete BOM transformation strategy to deliver high-quality products in less time. Let’s explore these features:
Enable Effective Collaboration and IP Protection
BOM management software is already known for its easy collaboration features whether it’s internal or external. Apart from providing ease of collaboration over product data, what’s more, important to comply with is to provide IP security while featuring collaboration.
Although internal collaboration of teams seems to be a facile task in comparison to external one as everyone can easily access the software, maintaining IP policies there too is a necessary part.
IP protection is critical for global companies that want to optimize collaboration without introducing the risk of losing IP or failing to meet regulatory requirements. Hence, your BOM management software should always comply with IP policies while collaborating to ensure risk-free data.
Create BOM-Based Reports
The product development process is very vast in itself and goes under several changes and updates of information. This step constantly requires that your software remains up to date at every point of time and shares updated data. Along with this, there are times when users need to get information from software through various forms like ad hoc reports, 3d visual reports, and advanced reports created by administrators.
A key enabler of a BOM management system is the ability to provide a wide range of reports for the organization. These reports enable users to better understand the digital product definition. It also allows them to query and find specific information and understand patterns, and analyze the products. They can also provide data in tabular and graphical form. Which will promote more informed decisions in the overall development process.
Provide Early Visibility of Data to Stakeholders
The product development process includes a plethora of people other than the core product team. The work of these departments depends upon the product design they get from the core product team. Most of the companies still rely on traditional methods where information from the part design, BOM, manufacturing, and suppliers are placed on a drawing, then go under the reviewing. This process takes up a lot of time for the release of designs and forces manufacturing and supplier teams to wait for them.
Nowadays companies need a software where all the data is synchronized and multiple teams can access their parts of data so that they can start to work on it. It also ensures that stakeholders can access updated data that provides traceability and is accurate.
Comes with Product Visualization
Visual representation of anything speaks faster than another form of information. It helps people to simplify how the finished product is going to look. Additionally, this facilitates them to bring improvements to the product. BOM management should allow you to visualize the product before its manufacturing. This allows the stakeholders or other teams to visualize it smoothly.
To enable this feature the information or design of the product must be up to date and accurate as this will be the game changer for any of the products. Thus, good BOM management should be able to visualize the product designs in 3D. Additionally, it should perform interference checking, color-coded search, visual comparison, and much more.
Keep downs the cost by reusing the parts
Parts reuse should always be the priority over purchasing them. This helps to mitigate the cost as well as maintains efficiency across the enterprise. It can help reduce inventory complexity, improve supply chain utilization, and lessen complexity in aftermarket serviceability.
BOM management supports it in two ways :
Here, the software categorizes the parts into different categories by adding more information about the product in its description. With access to this type of information, users can easily find existing parts that meet their design needs. Therefore eliminating the need to create new parts. This enables better communication in the supply chain and adds value to the designs prepared by the engineering team.
the second method is to track vendors and suppliers and the parts they are offering. Helping the enterprise in understanding which part can be sourced from which supplier during product definition. The BOM can show the relationship between the part and the supplier(s). This can even include specific information associated with each supplier, such as cut sheets, specification documents, compliance certifications, and more.
In closing, these are some features a BOM management software should provide to the enterprise to optimize their product lifecycle and bring qualitative changes to their products. KloudPLM offers you effective BOM management software. KloudPLM comes with a complete package of different modules like change management, compliance management, purchase and supplier management.
Furthermore, KloudPLM is a secure cloud-based system. That ensures that you don’t need to move to any other place for managing these other important things too. It captures all your data in a single place and smoothly launches your product in the market in lesser time. Hence consider using KloudPLM to automize your product starting from its inception to at the time of its launch to the market. To learn more, schedule a demo today.