Proven Obsolescence Management: Partstat BOM Monitoring Solution FAQ
As the electronic component market remains unstable and supply chain disruptions are becoming more commonplace, OEMs have quickly discovered the value of a proven obsolescence management strategy. As a result, several BOM monitoring systems have entered the marketplace, each with its own characteristics and limitations.
To show how Partstat BOM Monitoring separates itself from any and all BOM monitoring systems before it, we have decided to compile a brief list of some of the most common questions potential customers have. If your question is not answered below, just send us an email at email@example.com and our team of BOM specialists will be glad to speak with you!
What makes Partstat BOM Monitoring different from other similar offerings?
In addition to the ability to quickly price an unlimited number bill of materials, Partstat is the only BOM Monitoring Solution capable of using Big Data to accurately predict obsolescence and allocation issues before they occur! In addition, each BOM Monitoring customer is assigned a personal BOM Specialist who will provide real-time confirmation of lifecycle status when conflicts occur.
Where does your Big Data come from?
The Big Data used to provide our customers an accurate, real-time view of the market for any given component on their bill of material is gathered through over 5,000 suppliers, who upload their inventory to our platform. Digi-Key, Arrow, Avnet, TTI, Texas Instruments, and Mouser are just a few of our valued uploaders. Currently, our Big Data pool consists of over 50 billion data points on over 23 million unique electronic components and semiconductors, and combined they give Partstat users access the most powerful BOM monitoring system on the market. It is also the same Big Data that allows us to be the world’s largest free electronic component search engine and marketplace.
How does Partstat predict component obsolescence and allocation?
Good question! Once a bill of material is uploaded, BOM Monitoring customers can view real-time trending charts that provide an accurate overhead view of market status for each part. These charts use over 50 billion points of Big Data to track average price, lead times, and inventory quantities, which allow OEMs to create a plan tailored for whatever the market is showing at any given time. If lead times are dramatically increasing while inventory levels are decreasing, then obsolescence might be imminent. That knowledge provides customers a crucial window of opportunity to act before the competition, which could save them weeks to months on lead times, as well as thousands of dollars as prices continue to escalate.
Does your BOM Monitoring Solution notify users when a part change notification (PCN) is issued?
Yes! In the current market, too often PCNs are either issued with an unreasonable last time buy date, or not issued at all. So, in addition to our ability to predict obsolescence and allocation, Partstat BOM Monitoring also scans the internet every 15 minutes to see if any PCNs relevant to a customer’s bill of material have been issued. If one is found, the customer will be immediately notified, and the PCN itself will be available to view right from the customer’s dashboard. While it is important that customers understand the market trends for each part on the bill of material to prevent them from being taken off guard, if a PCN is issued, they can rest assured Partstat will immediately notify them.
What is included in the BOM Analysis Report?
Within 72 hours, Partstat will provide a free BOM Analysis Report upon upload of your bill of material. This report identifies the current lifecycle status for each part as “Active,” Obsolete,” “Prediction of Obsolescence,” “LTB,” “On Allocation,” “Prediction of Allocation,” and “On Critical-Allocation.” Additionally, Partstat will provide detailed information on each part including current unit pricing, inventory levels, and factory lead times based on the Big Data compiled from our uploaders. Our customers have found this report to be invaluable when evaluating risk for both obsolescence and allocation before the production of a new product.
Are there any restrictions regarding the number of parts or bills of material allowed per customer?
BOM Monitoring customers can upload an unlimited number of bills of material with no restrictions! In terms of the amount of parts allowed, we base our pricing on how many components and semiconductors are being monitored at any given time. We find it helpful to think of our model in terms of “buckets,” with each bucket worth 250 parts (credits). If the customer purchases one bucket, then we will monitor up to 250 parts dispersed among an unlimited number of bills of material. This allows our customers an additional degree of customization; in other words, there is no reason to charge them for what they are not using. For some OEMs, 250 parts is sufficient to meet their needs, while large OEMs may require more. Also, keep in mind that customers still have the ability to upload a part and not have it monitored. They will still be able to check average lead times, inventory quantities, and pricing for that part, but if it is not being actively monitored, it will not count against their total credits! In this way, many customers upload all of their BOMs to our platform and use our dashboard to conveniently store them in one intuitive, easily accessible location.
Where can I learn more?
To see our BOM Monitoring Solution in action, just watch our video and sign up for a free 14-day free trial by clicking here!