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The Role of Data in Sourcing Success

Protecting-BOM-Health-NPI-With-Portfolio-Monitoring

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.