Industry feedback is that searching for existing parts in a system can be more of a challenge and more time consuming than designing a new part. Field developed a tool in efforts to drive down SKU's. Rather than spending time designing parts that might be very similar to existing designs, our customers can utilize our tool to help search for the parts they need. By understanding what parts are used and the commonality of designs, our customers can drive for common parts.
See below for one of Field's Consolidation Reports.
Opportunity 1: Consolidation Review of SKU's
XYZ Industries utilizes a large scope list of hardware for their assemblies. A large list of SKUs will produce smaller average EAU per part. These smaller EAUs can often mean higher costs. Having many SKU’s can also increase complexity of the commodity management.
This situation is common among industrial customers. Field has a proven system to categorize the different parts of the scope list and filter them by their individual characteristics. This produces several benefits including:
- Creates a filterable spreadsheet that can easily show groups of similar parts.
Discussions can then take place with the XYZ team to determine if any of the
parts within that group can be consolidated to a smaller list of parts.
- The result is a smaller list of SKUs within the commodity group. This smaller
list will produce SKUs with higher average EAU per part. This increased EAU
can often result in piece price cost savings.
- This database is also used by engineers to quickly and easily search the list of
current parts to locate items that may work for their new applications. By
allowing the engineers to find these current parts easily they will be less prone
to create new SKU’s unnecessarily.
Reduced Carrying Costs
Streamlined Inventory management
Reduced Slow And Obsolete Inventory