5 Business Values OpenBOM Brings To Your Organization With Unmatched ROI

Oleg Shilovitsky
Oleg Shilovitsky
26 February, 2022 | 5 min for reading
5 Business Values OpenBOM Brings To Your Organization With Unmatched ROI

Earlier this week, I brought up OpenBOM Subscription Overview and provided a map of OpenBOM online services. Today, I want to help you build a value map of OpenBOM for your engineering or manufacturing organization and explain how OpenBOM brings this value with unmatched ROI.

OpenBOM is a cloud-native SaaS platform combining functions of data management, product data management, product lifecycle management, ERP system which helps to organize information, run engineering and business processes as well as to connect companies. By implementing OpenBOM, you can expect to see increased efficiency, productivity, and profitability. Here are five business values that OpenBOM brings to your organization:

  • Organizing information and managing product lifecycle
  • Streamline company processes data handover
  • Providing easy access to BOM analytics
  • Simplifying data access
  • Streamline processes with contractors and suppliers

Let me go deeper with each of these values and give you examples of how OpenBOM delivers these values and map it with OpenBOM subscriptions to help you estimate ROI.

Organizing information, managing product lifecycle and leaving Excel chaos behind

Data is the new oil in the 21st century. Moving from data chaos is one of the biggest digital transformation goals and many manufacturing companies are looking at how to make PLM implementation deploy various PLM technologies, ERP systems to change processes and leave Excel spreadsheets nightmare behind.

OpenBOM provides you with a super easy, yet powerful way to do so. By providing intuitive and flexible data management tools OpenBOM gives you a way to organize catalogs of items, define the flexible set of attributes pointing to various data sources – meta-data, files, references, links, and others. Once you built your set of catalogs, you can manage product structures by organizing multi-disciplinary BOM structures including all sources of information (mechanical, electrical, electronic, software) to define the product as it will be designed, manufactured, and supported. OpenBOM gives you automatic control of history and revisions, organizes change processes, and provides a way to manage approval processes for engineering and manufacturing changes.

OpenBOM helps you create a single source of truth about your product, helps to manage files, revisions and becomes a single place where everyone in the company can come to refer product information.

Streamline Company Processes and Data Handover

Once you found a way to take the data under control, the question about streamlining data handover and supporting process becomes super important. The biggest challenges in this process are how to import legacy data, organize integrations with other tools (eg. CAD systems), and support multiple downstream processes that require heavy data access.

OpenBOM will give you a set of super unique values. An out-of-the-box spreadsheet import (Excel and Google Spreadsheets), CAD integrations using plug-ins to support one-click BOM imports, combined with real-time collaboration using instant data sharing provides a solid foundation to streamline processes and help companies to handle data. A simple and powerful export function allows sending BOMs or packages including files and specifications to contractors and any other users inside and outside companies that are not ready to get on the OpenBOM platform. Such a mixed strategy uniquely position OpenBOM and allows it to gradually transform all processes in the organization involving product data, change management, production planning, and procurement. Moreover, downstream integrations with financial systems, ERP, and open REST API make data open and available for everyone based on the access rights and role-based access models.

Provide easy access to BOM analysis

The data managed by OpenBOM is super valuable for organizations and companies that can leverage multiple functions to perform various analyses – starting from simple and powerful flattened BOM to rollup quantities between multiple assemblies and sub-assemblies to more sophisticated calculation and rollups for cost, mass, and other business values.

OpenBOM helps to make assessments of inventories to build products, provide RFQ and PO synchronization functions.

Simplifying Data Access

The value of data sharing cannot be underestimated. According to the World Economic Forum assessment, the potential value of data sharing simply by focusing on manufacturing process optimization has been estimated at over $100 billion.

OpenBOM provides multiple tools and methods to simplify data access. Starting from easy and simple data representation in a spreadsheet-like fashion – it provides a slice of complex data in a very simple and visual form. A patented BOM collaboration method allows role-based access to the information and helps to eliminate mistakes and make data available to everyone who needs it.

OpenBOM’s Search-driven dashboards allow you to find the right data at the right time, slice and dice it to provide easy and simple access to engineers, manufacturing and procurement planners, managers, sales and maintenance personnel.

Streamline processes with contractors and suppliers

Unlike old-fashion legacy single-tenant PLM systems, OpenBOM is a multi-tenant data management platform, which makes it very easy to share data between multiple companies and suppliers. OpenBOM provides a patented Team View access method that allows you to share data or fragments of data while keeping a single source of information and supporting collaborative simultaneous operations with the data. In such a way a simple URL to BOM or catalog will always provide you with the right information, which will be changed seamlessly and instantaneously regardless of who is accessing the information. In such a way, OEMs as well as multiple suppliers will have seamless data access and will be able to streamline their cross-company processes.

Conclusion

OpenBOM provides a unique value for engineers and companies of all sizes to simplify data management, organize data handover and streamline multiple processes. Delivered as an online cloud-native platform, OpenBOM provides a quick way to start your work to deliver results in days and weeks (!) instead of months and years compared to old-fashion legacy systems.

Check out what OpenBOM can do for you – REGISTER FOR FREE and start a dialog with the OpenBOM Team to help you get started.

Best, Oleg

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