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5 Quick PLM Wins to Drive Greater Value Through Your Bill of Materials

Innovation is accelerating, product complexity is surging and the Internet of Things (IoT) is making product development increasingly more complicated. Product information that once might have been noted on a CAD drawing is exponentially more involved. Transforming your Product Lifecycle Management (PLM) is a necessity – and it begins with an effective Bill of Materials (BOM) strategy.

PTC Windchill can guide your organization through its Digital Engineering Journey one easy step at a time.

Bill of Materials (BOM) Structure and Reporting

Enter all parts and product information into an easy-to-read, easy-to-understand format. By streamlining product data into a single source of truth, you will:

  • Provide holistic digital product definition
  • Reduce scrap and waste caused by incorrect or outdated information
  • Eliminate time spent on rework, redundancy, and search

Parts Classification and Reuse

Classify parts into related categories (i.e. function, physical characteristics) to reduce the occurrence of part duplication. By quickly and effectively finding the parts you need, you will:

  • Get to market faster
  • Increase reuse of parts and components
  • Reduce the costs associated with part inventory

Download Windchill PartsLink Data Sheet

Change Management

Make dynamic, fast-paced, coordinated changes to the BOM throughout the product lifecycle to ensure that all stakeholders are accessing the most up-to-date product information. Stakeholders across the organization will manage and track changes and configurations, which will:

  • Ensure data remains accurate and relevant
  • Increase transparency and collaboration

Component and Supplier Management

Reduce product and supply chain complexity by managing and aligning parts, material, and supplier information into a strategic supply chain process. By providing visibility into the supply chain, you will:

  • Streamline the sourcing process
  • Increase engineering productivity
  • Optimize volume pricing opportunities

Value Chain Data Sharing and Collaboration

Need to share product information with stakeholders (such as your supply chain)? No problem! Quickly consolidate a secure package of the most up-to-date relevant product data to allow easy collaboration.

  • Turnaround data quickly to external stakeholders
  • Execute quick and easy Vendor Quote Packages (VQP)
  • Improve compliance through traceable data sharing