Accelerating Manufacturing Success With Smart BOM Management

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Most manufacturing organizations rely on various supply chain partners to develop and ship products to their customers on budget and ahead of schedule. Distributed teams need easy access to the latest product information anytime, anywhere. Keeping everyone on the same page is critical to avoiding confusion throughout the New Product Development (NPD) and New Product Introduction (NPI) process. BOM management is the best way to manage your parts and suppliers

Many organizations rely on manual processes, or spreadsheets to manage and execute their product design. Which includes a bill of materials (BOM) detailing all the components required to manufacture a finished product. However, modern Product Lifecycle Management (PLM) systems are created to provide smart BOM management with a single centralized cloud system.

The increasing use of supply chain and contract manufacturers (CMs) stresses the need to leverage systems. that improve the creation, sharing, and approval of BOMs by both internal and external teams. This desire to share product information with vendors is further underscored by the fact that the global CM market was valued at $149.8 billion in 2018, according to Grand View Research, with an estimated growth of 7% through 2026.

Therefore, manufacturers and supply chain partners must be able to work together to ensure the delivery of high-quality products. Cloud platforms like PLM offer the best opportunity to share the latest product design and bill of materials with all concerned parties.

 

What is Meant by Smart BOM Management?

There are several systems that manage aspects of BOMs, and two of these include Computer-Aided Design (CAD) and Enterprise Resource Planning (ERP). CAD systems generally provide isolated control over mechanical or electrical designs and are useful to engineers. ERP systems handle the final design or BOM needed to meet customer demand. But ERP focuses on material planning and production once the NPD process is complete and the final design is approved.

The NPD process requires the to work with all engineering, quality, manufacturing, and supply chain teams to develop a product that can be effectively sourced, built and shipped. NPD requires great collaboration from all product teams to develop the final product that is eventually handed off to ERP.

Smart BOM management begins with centralized control of the entire product record and BOM. Which consists of electrical, mechanical, and software components. It provides the ability to easily move engineering designs from CAD to a single system such as PLM. Once the information has been added, you should be able to securely share the latest BOM design with internal and external partners. This is done to protect the manufacturer’s intellectual property.

Finally, the system must be extensible to both upstream and downstream systems to reduce manual data entry errors. As the product development process evolves from the initial concept through bulk shipment of products to customers.

 

Speeding Product Launches

Speed is essential in today’s global economy. Manufacturing companies need to be able to eliminate the problems that cause product failures, quality issues, and delivery delays. KloudPLM provides the best way to bring mechanical, electrical, and software designs together for all product teams to share the latest BOM design changes. This in turn leads to faster product release cycles. The return on investment (ROI) can be significant.

Additionally, smart Bill of Materials Management software streamlines NPD and NPI processes to accelerate product launches. The systems that support supply chain collaboration in NPD and NPI continue to evolve rapidly. At the end of this process, supply chains will act “on their own” with the ability to self-regulate and take appropriate action. Thereby expanding and expanding human capabilities far beyond what is known today.

That’s the promise of intelligent systems like PLM provides. That is the ability to improve teams’ skills with solutions that increase visibility and transparency throughout product development.

Leveraging intelligent BOM management capabilities with KloudPLM eliminates disconnected silos and manual methods of collaboration. This reduces errors in product design and production. KloudPLM provides the ability to manage the entire product design. Additionally, it also provides connections to upstream and downstream systems. This eliminates manual data entry errors and speeds up handoffs between design and manufacturing teams.

 

Improve Your BOM Management With KloudPLM

When you are working with distributed teams and vendors, you need to make sure everyone is working on correct BOM verification throughout the product lifecycle. You don’t have to rely on manual processes or siled tools that create confusion and uncertainty. KloudPLM provides intelligent BOM management to help companies with complex products deliver innovative products quickly. 

Does your existing BOM management solution or approach provide a single place for all teams to collaborate in real-time? Evaluate your current solution and make a smart decision when choosing a BOM  solution. Schedule a demo today to know more.

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