Newton,United States – March 30, 2022 —
Manufacturing companies can now prevent costly errors and improve communication with the launch of OpenBOM’s new global collaborative platform. The cloud-native platform manages product development lifecycle, production planning, and connects manufacturers with their customers, contractors, and suppliers. This prevents costly mistakes in manufacturing by streamlining communication and managing data regarding materials and costs.
What is OpenBOM and what does it do?
OpenBOM is a global collaborative platform that helps manufacturing companies have all of their data and communication in one convenient location. For an industry that heavily relies on Excel spreadsheets for its communication, OpenBOM takes that to the next level. The platform manages product development lifecycle, production planning, and connects manufacturers with their customers, contractors, and suppliers.
How does OpenBOM work?
OpenBOM connects manufacturers with their customers, contractors, and suppliers to prevent mistakes at any point in the manufacturing process. The manufacturing industry relies heavily on the use of Excel. By adding cloud-native software, it works to prevent mistakes by keeping all the data needed for a project in an easily accessible location. Here, businesses can communicate and make adjustments for projects with real-time updates on pricing, timing, materials, and how they will affect the project.
What are the benefits of using a collaborative platform in manufacturing?
OpenBOM is being referred to as “an Excel spreadsheet on steroids,” by clients. The benefits of using a collaborative platform in manufacturing include preventing costly errors, improving communication, and managing data of materials. OpenBOM’s platform helps manufacturing companies achieve these benefits.
How will the OpenBOM platform help to prevent manufacturing errors?
OpenBOM’s cloud-based platform will help to prevent manufacturing errors by companies involved in the manufacturing process at every stage in the life-cycle of a product. This prevents costly mistakes in manufacturing by streamlining communication and managing data required by companies to properly quote and develop products.
How have other companies benefited from using OpenBOM?
OpenBOM works with multiple companies in different industries involved in the manufacturing process. OpenBOM is familiar with common concerns in the manufacturing industry and provides solutions to these concerns in an effort to improve workflow and prevent errors.
Problem #1: The industry standard for manufacturing companies is Excel.
Although this is a low-cost option and is easily available, Excel is not a cloud-native platform. It cannot keep up with the communication and data storage needs that are required for a modern-day manufacturing company. With companies all over the world trying to work together, sending back the same Excel spreadsheet can leave room for error, whether intentional or not.
One client, working with a consumer manufacturing company, had a large project and was using Excel sheets to collaborate and build their product. But because of the size of the project, there was a constant need to maintain the Excel sheet itself. Prior to OpenBOM, the client found themselves spending 5 hours weekly, updating data in Excel and maintaining the spreadsheet to reflect accurate data. After adopting OpenBOM, the client spends 5 minutes rather than 5 hours of their time and can focus on the project itself.
Problem #2: Without having the proper tool to record and manage data throughout every step of the manufacturing process, there is room for error that can affect the quality of the product and cost margins.
If viewing the manufacturing process as following a recipe, one must consider that it is a recipe being followed by multiple chefs, in kitchens that aren’t always close to one another, and ingredients can vary based on the location of the kitchen. If a company is working with another in a different country to produce a product, the regulations around certain products or materials may vary. If the sales team is not familiar with regional differences, then the price quote may be inaccurate. Even something as basic as the packaging used to transport and protect the materials needs to be accounted for when calculating costs.
One client was using Google Spreadsheets to manage the data for developing electric airplanes for agricultural use. They spent so much time trying to manage the spreadsheets and the spreadsheets did not have the ability to communicate with one another. After using OpenBOM, they were able to stop using Google Spreadsheets to manage their data and are able to quickly give accurate quotes. They refer to OpenBOM as “Google spreadsheets on steroids!”
Problem #3: Time-sensitive projects cannot rely on Excel to communicate their project needs and material needs.
With multiple different companies often working on the same project together, timing can be a big factor in the success of the project. With one client, they found themselves in a position where their contracted manufacturer required all the information for a project, primarily material needs, by a very specific deadline in order to start development and manufacturing on schedule. In order to start the manufacturing process, they required the full bill of materials by the end of a Sunday night. Using the Excel system, this would’ve been an impossible time window to work with. Bill of materials systems are very complex, and the setup alone is a very lengthy process.
OpenBOM came to the rescue. Had this client not been able to deliver the information in a timely and organized manner, not only would they have been in trouble with their boss, but they could’ve lost the contract with the manufacturer.
The Future of OpenBOM and How it Will Continue to Help Businesses Worldwide
The future of OpenBOM is bright, and it will continue to help businesses worldwide by preventing costly manufacturing errors and improving communication. The global collaborative has seen where the manufacturing industry’s communication and data management can be improved and has provided a solution that does exactly that. OpenBOM is here to prevent errors before they happen. OpenBOM is saving companies around the world both time and money.
For more information about OpenBOM, visit their website at https://openbom.com.
Release ID: 89072242
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