Understanding Partstat’s Obsolescence Statuses for BOM Monitoring Solution
With the help of 50 billion points of Big Data acquired from thousands of suppliers who upload their inventory to our platform, Partstat’s BOM Monitoring Solution allows us to not only accurately identify which components are transitioning toward obsolescence, but accurately predict obsolescence before it occurs. With the help of a status rating for each electronic component or semiconductor in your bill of material, customers will be given a window of opportunity to pivot their supply chain ahead of the market, resulting in savings as high as tens of thousands of dollars.
To maximize the value of our BOM Monitoring Solution, however, it is critical that customers understand how Partstat identifies each monitored component on their bills of material. Each status is reflective of where our Big Data indicates the component is in its lifecycle. Some statuses require no additional actions, while others require proper attention as quickly as possible. To help clarify what each status means and how OEMs should react when they see them on their bill of material, we have listed each below:
An active component is the standard designation given to an electronic component or semiconductor. This means that the component is still in production, in stock at appropriate and consistent quantities, and requires no additional attention. However, it will still be beneficial for OEMs to regularly monitor the real-time trending charts for each component that detail average inventory quantity, price, and lead times.
Partstat predicts when a component is about to go on allocation in accordance to a complex algorithm based on what our Big Data tells us in regards to average price, inventory quantities, and lead times. When such a status is seen, BOM Monitoring customers have several options. For example, customers who use Part Search can easily place a large order using the Partstat Rapid RFQ feature before imminent supply chain disruptions become more pronounced (rising prices, bidding wars for limited inventory, etc.). And with each supplier granted an aggregate score by customers based on the accuracy of their uploaded information, you can be assured that the inventory in question is real and will be fulfilled exactly to your specifications.
Prediction of Obsolescence
Partstat predicts when a component is trending towards obsolescence. We do this through advanced algorithms that look at quantities, lead times and NRND (Not Recommended for New Design) notices. When the component manufacturer sends out a PCN with NRND, Partstat will notify customers immediately.
“LTB,” or last time buy, indicates that a component manufacturer has issued a PCN for the obsoleted electronic component or semiconductor in question. You will immediately be notified via email when such an event occurs, and you can download the PCN directly on your BOM Monitoring dashboard to share with your team. Just like with allocation status, customers will be notified immediately and encouraged to initiate their last time buy procedures before the deadline.
Should this status be seen, the component has been obsoleted, and the customer should take immediate action via Part Search to identify an alternative distributor. All of the distributors who upload their inventory to Partstat have each been thoroughly vetted to meet only the highest standards of integrity and transparency, so OEMs who require immediate obsolete inventory fulfillment can be assured that all inventory is real and accurately described.
Please reference the key below for all Partstat lifecycle statuses.