What does a BOM tool do and How can it Benefit your Business?

Are you familiar with the very latest in Bill of Materials management? If you’re a purchaser, then keeping up-to-date with the latest management tools is essential for keeping your ordering responsibilities in check and well maintained.   

Small business

Despite its infancy, this management tool is proving to be invaluable across OEMs and CM businesses alike, and once properly utilised, not only will the entire manufacturing process benefit, you’ll wonder how you ever managed without it. Here we’ll explore what a BOM tool can do and how it can specifically benefit your business. 

What does a BOM tool do?

A BOM tool makes the sourcing of electronic components incredibly easy and efficient. This revolutionary tool helps purchasers keep on top of their ordering and their component orders, using smart technology and data to help source the parts you need at the prices you want from thousands of reputable vendors. 

A BOM tool allows you to compare prices, select your search criteria to tailor your results and buy your entire BOM with only a few simple clicks. This simple yet highly effective approach means you can say goodbye to those laborious, manual workflows and streamline the entire procurement process. 

So, how can a BOM tool benefit your business?

As mentioned above, there are plenty of ways a BOM tool can benefit your business. Let’s take a look at some additional reasons to invest in this software.

It’s time-efficient

Within business, time is money and as a purchaser, you’ll already be familiar with how time-consuming the procurement process can be. From requesting RFQs and manually comparing prices from numerous vendors, to scouring trade sites and making phone call after phone call to find the right component and the right price. 

But with a BOM tool, you can leave those time-consuming processes in the past where they belong. By utilising your BOM management tool, you can get a wide range of quotes from thousands of quality-assured vendors within seconds, allowing you to order everything you need instantly.

You can save money

Saving as much money as possible without jeopardising the quality of your services or being unable to fulfil your promises to your clients is a difficult balancing act. However, when you utilise the BOM tool from Sourcengine, you’ll get to choose from thousands of quotes and compare prices without impacting the quality of your services or products

Delivery and shipment guarantees

One of the biggest bugbears of the manufacturing industry is bottlenecked shipment processes. When you’re working to a deadline and you need certain parts as soon as possible, the last thing you need is to be at the mercy of a logistical nightmare. Again, thanks to BOM management tools, you can easily schedule multiple deliveries, helping to keep your supply chain moving and maintaining your businesses’ reputation for excellence.

And finally, quality parts

When it comes to electrical components, quality is essential. Once more, using the BOM tool from Sourcengine means you’ll only deal with reputable and thoroughly vetted vendors. Vendors that have the capability to fulfil your requirements whatever they may be. You’ll also get peace of mind that any part purchased through Sourcengine is covered by a 3-year warranty. 

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.