Are you using a BOM tool as part of your business framework? Your BOM, or Bill of Materials, is a vital part of your business framework.
It is an essential feature of your OEM enterprise, as it lists the required component parts and the assembly instructions of the product itself. This, which is essentially a shopping list, is vital to ensure you have all the necessary components for your production line and the manufacturing process.
Interestingly, many OEM enterprises are no longer using their Bill of Materials in isolation – they are instead utilizing online tools to enhance and streamline the procurement process to ensure that their BOM is accurate and reliable every time component parts need to be purchased.
Using a BOM tool can revolutionize the way your purchasing teams handle your electronic component requirements, with far-reaching benefits impacting other areas of your business and most importantly – your clients.
Client satisfaction is what keeps your business going. Word-of-mouth recommendations from individuals who are happy with your products and services are something that can encourage your business to further flourish. That is why keeping your customers happy is absolutely imperative for the success of your work. Without your clients, you wouldn’t even have a business, which is why they must always come first.
If your Bill of Materials process isn’t streamlined, it won’t take long for this to have a domino effect, negatively impacting everybody involved.
Want to know more? Let’s explore how using a BOM tool will benefit your clients.
1. Access to New Suppliers
When OEMs utilize an online BOM tool like the one on Sourcengine.com, they’ll not only be able to work with over 3,000 fully vetted international suppliers, but also have access to 550 million component parts.
Having new parts in stock, and the ability to work with international-based suppliers means OEMs can provide a wider range of manufacturing options, with the opportunity to assemble products or components that their clients want. By using a BOM tool, you are opening the doors to new possibilities, which in turn, means your clients can get everything they need under one roof.
With access to such a wide range of different suppliers, you have the luxury of choice and can find exactly what you need, when you need it.
As well, you can even try out different products and suppliers, to decide for yourself which is best suited to your business, ensuring that you are always providing the best output to your clients. Also, it is worth noting that you are not tied to one specific supplier – you have the freedom to mix and match if there are multiple ones that provide the parts you need.
2. Faster Turnaround
When you utilize a BOM tool, you are no longer constrained by poor communication between you and your manufacturing suppliers.
By bringing your procurement process into the modern age, you’ll be able to upload your BOM, compare prices through a database, and schedule deliveries for when you need them, allowing you to streamline your entire process, which in turn benefits your clients with fast turnaround times without compromising on accuracy or quality.
You can also get an instant quote through the free and easy-to-use system. Don’t keep your customers waiting any longer than they have to! Efficiency is something to always strive for – getting the right parts, when you need them, means that you can stay on top of your workflow.
When clients know that they can rely on your business to provide them with the finished products they need, all within the agreed time frame, without compromises on quality or costs, then you can expect growth in revenue and an influx of interest from other businesses looking for a reliable equipment manufacturer.
When OEMs use a BOM tool, the supply chain is clear and concise, making it easier for them to make promises and deliver on them, every time.
If your patrons can’t rely on you delivering the goods at the agreed time, they aren’t going to stick around for long. You need to highlight your consistency and top-quality service – having an effective BOM process in place can make all the difference when it comes to this.
4. Better Quality
Using a BOM tool, like the one found on Sourcengine.com, means having direct access to 550 million parts online, but that is not all. All parts undergo strict quality tests and are all industry compliant.
Additionally, all parts come with a 3-year warranty, so if anything does go awry, the issue can be quickly rectified. Having a warranty covers your back and means you can have faith that what you are investing in is workable. Remember, when you choose to work with high-quality parts, it is your client who gets the best deal.
Getting the best value, high-quality resources that perform how you want means that in the long term, you should be saving money. If you opt for cheaper parts that lack quality and are likely to break and cause problems further down the line, you are making a mistake.
By doing your research and finding trusted suppliers for the right price, you are protecting yourself and your business. Quality should always come first, as it won’t take long for your clients to notice if something is lacking.
When you use Sourcengine’s BOM tool, you can compare thousands of vendors in seconds, meaning that you are able to read reviews, assess pricing, evaluate quantities, and ultimately, order with confidence and ease.
Having this autonomy and being able to schedule deliveries for specific times means that you are able to keep on track, and you know exactly what is going on with your supplies. In turn, this will benefit your customers as you’ll be organized, in the know, and able to fulfill their requests.
Final Thoughts on Using a BOM Tool…
Maintaining high levels of customer retention means updating your procurement process and embracing a BOM tool.
Having a solid Bill of Materials process that allows you to access the best quality materials with fast turnaround times and scheduled deliveries, means that you can stay one step ahead of your competitors, ensuring your customers are never let down. Head online now to update your purchasing approach.
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I am Adeyemi Adetilewa, a media consultant, entrepreneur, husband, and father. Founder and Editor-In-Chief of Ideas Plus Business Magazine, online business resources for entrepreneurs. I help brands share unique and impactful stories through the use of public relations, advertising, and online marketing. My work has been featured on the Huffington Post, Thrive Global, Addicted2Success, Hackernoon, The Good Men Project, and other publications.