Global outsourcing, competition, price erosion, environmental regulations and supply chain complexity are just a few of the challenges product development companies are facing every day. Many of these issues revolve around management of parts within the Bill of Materials (BOM). Finding and reusing approved components is a challenge for most manufactures. As a result, designers often design a new part rather than trying to find an existing one for reuse. This causes inefficiencies and a proliferation of parts, materials, and suppliers resulting in added costs and risk.
In this session, you will learn how PTC’s Product Development System enables integral design and procurement processes to vastly improve a company’s product development cycle. When done properly, component and supplier management enhances collaboration, reduces part spend, increases engineering productivity and reduces inventory levels and supply chain complexity.