Are you on the fence regarding BOM software? You might not realise it, but as an OEM holding on to your traditional procurement strategy, you might be holding your business back, both in terms of customer loyalty and your bottom line.
Let’s explore some strong reasons to invest in BOM software for your OEM business.
Increase communication between departments
Imagine announcing that you need a new 48 MHz CPU flash memory part for a machine. This message will quickly be passed around, with numerous individuals stepping in to order the part, or asking others to order it for them. Others may order the wrong part entirely or request too many or too few. Before you know it, there’s complete disarray over a single component part, and it’s costing you time, money, and issues within your workforce.
By utilising a BOM tool, you’re effectively taking back control of your procurement strategy. Thanks to its downloadable results, user-friendly interface, and manageable order history, you or other employees will be able to see what parts need to be sourced and which have been taken care of. In addition, once orders have been placed, this information can be shared with the relevant parties, keeping everyone informed of when to expect the parts required.
You can easily find the parts you need
Time spent searching for your component parts should be quick and hassle-free. Unfortunately, if you’re still engaging in traditional methods of procurement, such as travelling to vendors and comparing prices by hand across numerous platforms, then you’ve lost your competitive edge. By investing in BOM software for your OEM business, you can upload your requirements within a single click, whether you need to search for one part or hundreds. Thanks to an extensive database of over 550 million parts, you’re sure to find everything you need within seconds, cutting out the middleman and keeping up with industry competitors.
Keep your component costs down
Keeping your overheads low and your spending minimal is a difficult balance for any OEM. Often, due to a lack of choice, urgency and even unexpected orders or errors they have little opportunity to search for the best price and end up paying over the odds. By investing in BOM software, you’ll be able to search for components within your price range with ease and have access to real-time data, including special offers and deals from reputable suppliers.
Streamline your warehouse and logistics practices
Does everyone within your supply chain know the latest on that order you just sent out? Or when to expect the next shipment of components? If not, you need to invest in BOM software. By scheduling deliveries and sourcing component parts from partners with no geographical restrictions, you’ll be in better control of your supply chain and keep your production lines moving, seamlessly.
Exceed client expectations
Ultimately, you want your clients to choose you over your competitors. Increasing customer loyalty with gifts and special offers is one approach, however, if you elect to improve the customer journey with better communications, high-quality products and pass on your own savings directly to them, then you can expect a surge in loyalty to your brand.
What are you waiting for? Download your BOM tool today to get started.