Organizations are experiencing an increase in unplanned product redesigns, leading to missed product launches and missed shipments of sustaining products. Product redesigns are driven by unforeseen End-of-Life (EOL) of key components and component shortages from sole- and single-source suppliers. Product managers, engineers, and category managers cannot thoroughly vet components in their bill of materials (BOM) against timely market intelligence. This results in exposure to EOL, Part Change Notifications (PCN), component availability, and import restrictions. Additionally, NPI teams are limited in their ability to quickly identify alternative components and suppliers earlier in the process.
How LevaData Protects Your Product Launches & Associated BOMs
Acting as a single source of truth, LevaData integrates with PLM and design systems to break down silos of information. The platform continuously monitors BOM health, attributes, and project history. Built-in communication tools, project management, task assignment functionalities further allow professionals to collaborate seamlessly, significantly decreasing how long it takes to get new products to market by matching parts to identify comparable Form Fit and Function (FFF) parts and quickly find alternatives for qualification, rapidly improving turnaround time for qualifications.
LevaData’s AI-driven advisor explores all relevant sources of information to predict risks, identify savings opportunities, and suggest the best course of action. It compares alternate BOMs side-by-side for a real-time view of how any changes impact you from a price and risk perspective.
Additionally, LevaData acts as a single source of market lead time data within the component and sub-component categories. This allows customers to triangulate their quoted lead times against market lead times and leverage this to negotiate with their key suppliers in a competitive and successful manner.
LevaData's integrated supply management platform offers access to revolutionary solutions like NPA, which applies AI to marketplace and supplier intelligence, allowing you to select the most profitable and reliable supply of materials for new products. Get in touch with us today to find out what we can do for your enterprise.
- The Real Answer to Procurement BurnoutIn 2023, burnout continues to be a hot topic for supply chain and procurement professionals. With ongoing market volatility and inflationary pressures, workers are stretched […]
- The Power of Data AggregationAre you paying more than your competitors or peers for the same component? If so, which negotiation strategies—or alternative sourcing decisions—might reduce the gap? Does […]
- The Role of Data in Sourcing SuccessIt's difficult to source and buy direct materials at scale. While simple transacting may seem easy enough to understand, the process leading up to these […]
- Protecting BOM Health & NPI With Portfolio MonitoringOrganizations are experiencing an increase in unplanned product redesigns, leading to missed product launches and missed shipments of sustaining products. Product redesigns are driven by […]