Solution
DesignSource
Key Insights
Achieve cost visibility across similar products rapidly.
Drive volume consolidation across preferred suppliers to manage New Production Introduction (NPI) costs.
Accelerate Parts Master Design for high-spend parts while reducing risk, design complexity, and deployment costs.
Reduce working capital by rationalizing part numbers and reducing number of suppliers under management.
Overview
DesignSource is a rigorous analytical tool that delivers product insights to address organizations’ product and sourcing challenges.
The solution collects product, design, and operations data from a variety of sources, and performs a thorough cleansing and data enrichment analysis. By merging bill of materials (BOM) data with other enterprise, supplier, digital supply chain, and third-party benchmark data, the solution can uncover opportunities to reduce cost and complexity.
Features
- Uses advanced technologies such as machine learning, optical character recognition, image analytics, and natural language processing (NLP)
- Annual refresh of preferred parts, attributes, suppliers, should-cost, and benchmark pricing
- Enriched data sent to SAP with preferred parts markings to drive sourcing and procurement initiatives