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.
Current State:
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.
Opportunities:
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:
Reduced Carrying Costs
Increased Turns
Streamlined Inventory management
Reduced Slow And Obsolete Inventory
Cost-Effective Replenishment