Parts Rationalization

Industry Challenges with Parts Retrieval

Industry Challenges with Parts Retrieval

Our Parts Rationalization offering delivers value by using data about parts to find the most cost-effective way to deliver a product function. Let us explain.

Your product IP is stored as data on your drawings – this data defines parts, components and assemblies and is critical information to your company and customers. Many others consume this data; it is used to order parts and components, select suppliers, and manufacture products. Similarly, the part data stored in a catalog is essential to finding a part or component that fits a product or system requirement.

But is this data on drawings or in catalogs accessible-can it be searched and found? Can you find a part or component by searching on a performance characteristic? Which characteristics of a part are driving the item or part cost? Do you know if the price for parts with similar characteristics is consistent across products and product lines? Can you find and look at all the components in a class regardless of where they are used?

Not knowing the answers to these questions can significantly drive up your material costs. Plural Innovation Consulting has the answers and solution and we’re ready to discuss a Parts Rationalization solution for your company.

  •  It is a well-established fact that reuse reduces engineering, inventory and quality costs-but can you find parts and components to reuse?
  •  Companies who have developed databases of their parts and components have realized 10 to 20 percent reductions in their material spend and 20% reductions in inventory. We can run the numbers for your company-and begin driving savings to your bottom line.

Plural’s Parts Rationalization offering will help you to:

  • Collaboratively design a classification structure that organizes all of your parts, components and products
  • Collect the data from your drawings and excel spreadsheets and populate a specially designed database
  • Make the data available to all your enterprise applications: search engines, ERP, PLM, CRM, etc.
  • Analyze the data and find opportunities to:
    - Consolidate parts
    - Reduce inventory
    - Reduce cost variance

Data-Driven PLM

Data is everywhere and is being used for everything – by everyone. Shouldn’t Product Development be based on data as well?

Plural’s Data-Driven Product Lifecycle Management (PLM) solution is a service that makes data the heart of your product development process. Data is harnessed from multiple sources and made available to your product development teams and internal customers.

What can you do with Data-Driven PLM? Here are two key performance areas where Data-Driven PLM makes the difference.

  • Product Architecture and Modularity
    - Find cost effective ways to architect products into modules by understanding the interfaces
    - Determine how a requirement should be met or feature should be delivered to a customer either by hardware, software or data
    - Organize the supply chain to effectively produce modules
    - Reuse modules across product lines
    - Determine what faces the consumer and what stays inside
    - Understand how to distribute key knowledge
    - Understand the tradeoffs between cost and performance of modules
  • Process Optimization
    - Determine the cost tradeoffs between ad hoc and standard processes
    - Use data from the PLM to measure the performance of the product development process
    - Use data to develop strategies for process efficiency
    - Determine how to organize knowledge for effective distribution

We are also working in other exciting and new technical solution areas such as The Internet of Things, Attributes Multiplicity – we are ready to work with you to create awareness and help your company prepare its strategy in each of the above emerging technology areas!

So, what are you waiting for? Ask us today about Parts Rationalization and Data-Driven PLM - and let us help you improve your company’s product life cycle.