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Component & Supplier Management

Select the Right Part, Right Away

Successful product companies distinguish themselves through profitability, fast growth and time-to-market advantages over their peers. What do these successful companies have in common?

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Many have component and supplier management processes that enable selecting the "right" part from the beginning of product design. These companies have embraced a simple fact: once a new product reaches manufacturing, product and transformation costs are mostly fixed. In fact, over 70% of a new product's cost structure is locked-in before the first prototype is even built. By providing early designer access to enterprise and supply chain data, these companies are empowering their product designers to make better decisions. As a result, they are enjoying faster time-to-market, lower product cost, fewer regulatory compliance issues, and improved quality and manufacturability.

What's preventing your company from achieving these results? Disconnected, outdated part libraries stored in multiple applications? Are inadequate search tools making it easier to create a new part than find an existing one? When a part is found, is data missing, wrong, or inconsistent? A Component & Supplier Management Solution can help.

Companies are achieving remarkable results using a Product Development System PDS to maximise reuse of preferred parts. Users quickly find the parts they need with high-speed classification search. Parts are standardized for accurate comparisons and enriched with functional, supply chain, and compliance information, making it easy to make the "right" choices. Supplier preferences are maintained for each important sourcing scenario. If a new part is needed, the new part request process is fully automated, lean and controlled. Now the procurement and design teams are on the same page, empowering designers to select the right part from the beginning.