Improving bill of materials design through optimal part choices
After conceptualization, the design stage marks the next phase of the lifespan of any project. It is at this point that one finds out if a project is feasible and exactly how much it would cost to execute. However, designers get project costing wrong a lot of times. This leads to major problems during the execution phase, especially relating to financing. An incorrect budget can grind a project to a halt. Considering these dire consequences, why is it so hard to get project budgeting right in the first place?
Regardless of the project type, a significant part of the budget is represented in the bill of materials. This is basically a list showing the materials, components, parts, and assemblies – and the quantities of each – that is required to produce the desired end product. The bill of materials (or BOM) is an integral part of the project design. This is because it gives designers exactly what is required to move a project from mere concept to a tangible product.
You can design a BOM for either manufacturing or engineering processes. A comprehensive and accurate BOM helps designers and project managers make better decisions that will affect the affordability and efficiency of the final product. However, project designers do face a lot of problems when trying to come up with an accurate BOM. During a project’s lifecycle, the price or availability of key parts can change. A preferred vendor might even go out of business! Because of such unforeseen events, it is vital to get a better way of making these decisions.
Luckily, some great automated programs and systems can help you make optimal part choices. Project designers can now access historical data on the lifecycle of parts to help them predict the longevity of any given component. This system also makes it easier to find exact parts that meet the stipulated specifications and get competitive price quotes from trusted vendors at the same time.
Furthermore, the program also helps to reduce the number of errors in a BOM. Designers do this by keeping track of the price and availability of parts from trusted suppliers. This ensures that they can refine their choices continuously during the design process. However, in case one supplier does not have the part you need, then this automated system will be able to give you viable alternatives in real time.
Another major concern project designers have is how to source large volumes of parts at a competitive price. The system solves this issue by allowing the design team to compare volume pricing of different components. As a result, one is then able to understand how certain sourcing choices will affect the overall budget. Furthermore, using this system organizes all the project data in one central place. This leads to easy, logical and cohesive project implementation.
When all’s said and done, project design requires a lot of information for it to be done in a rational way. Using an automated system is the best way to ensure that designers have all they need to make optimal part choices. Such a system could mean the success or failure of any kind of project.