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What is a BOM tool? And how can it help OEMs?

Whether a machine on your production line has broken down and brought your business to a standstill, or you have an unexpected influx of client orders, whatever project you’re handling right now, your Bill of Materials is where the production begins.

As you’re probably aware, your BOM list can quickly become extensive and confusing, and the idea of searching for each component one by one, painstakingly comparing prices across multiple vendors, and communicating this information throughout the entire business is enough to drive even the most experienced procurement officer to distraction.  

Thankfully, this is where a BOM tool comes in handy. This straightforward piece of software is revolutionising purchasing strategies across multiple industries. All you have to do is upload your BOM list to get started.

This user-friendly tool means you and your procurement team will have the autonomy to select, compare and source the component parts you need within minutes, and all from fully vetted and accredited vendors, from an online marketplace, exporting over 550 million parts.

Want to know more? Let’s explore the finer details of a BOM tool and how it can help OEMs get ahead in their competitive industry.

What is a BOM tool? And how can it help OEMs? - 1

Start by uploading your list

That detailed list of potentially thousands of component parts can be easily uploaded onto the Sourcengine database with just a few simple clicks. Perfect for batch sourcing, the BOM tool will instantly get to work, sourcing the best offers for your requested parts from thousands of suppliers and a database of 500 million parts. And as this is done within a matter of seconds, your procurement team can get on with other important tasks.

Set the criteria you need

Every OEM is different, and your requirements will also vary. Finding the parts you want is one thing, but are they the right price? Or will they be shipped in time? A BOM tool eliminates all this uncertainty and allows your team to set their specific criteria, whether it’s based around the price, a specific manufacturer, the fastest delivery or even the packaging condition. This kind of detailed search means you’ll find exactly what you need, keep costs low and implement a completely streamlined process.

Note: OEMs will also have access to real-time data analysis, which means the latest prices, batch deals and availability is guaranteed with a BOM tool, helping you keep your inventory under control and managed better.

Share your progress

Once your team has placed an order, it’s important that the lines of communication are kept open. This is another reason why BOM tools have become so invaluable for OEMs. By simply downloading your orders and your completed BOM list, these crucial documents can be accessed anytime by other departments, so they can easily see what parts have been requested and when they can expect them to arrive.

Final thoughts…

Utilising a BOM tool means getting ahead. It means better control of your inventory and your procurement budget. Start by uploading your BOM list today and get comparing prices.