The fact that building BoMs is expensive is not new. They require much time, resources, and expertise, which is why some asset-intensive companies enlist third-party contractors’ help.
There are many contributing factors to the high cost of constructing BoMs. One of them would be building it out in a spreadsheet and then transferring the data to an EAM system. Starting in a spreadsheet may be simple; after all, everyone is familiar with Excel, right? But it may result in unnecessary extra cost for your company.
Some companies may even choose to miss out on a bill of materials altogether due to the high cost. But most times, they are unaware of the things they do that add unnecessary extra expense. Here are two possible reasons why your BoMs are so expensive.
You’re using a spreadsheet
Some asset-intensive companies or third-party contractors build BoMs in spreadsheets because they do not have a productivity tool. Building a bill of materials without productivity tools makes it more challenging to edit, review, visualize, or search for existing parts. It also increases the chances of error and inaccuracy which can lead to extra cost.
Your materials are littered with duplicates
Your materials have duplicates…not a big deal, right? Actually, yes, that is a big deal. Duplicate parts can quickly accumulate if the problem’s root cause is not being addressed. This can result in extra cost for your company because without productivity; it becomes difficult to identify duplicates and get rid of them. Features such as intelligent searching allow maintenance workers to search for similar parts and reuse existing materials when they create BoMs. This reduces unnecessary clutter, makes your BoM easier to use, and results in on-time and complete work orders.
Are your problems self-inflicted?
Building a bill of materials is a good investment that will go a long way for every asset-intensive company. For your BoMs to work for you, it is important to make sure that you are not inadvertently creating a breeding ground for inaccuracy or inefficiency, as that costs money.
If you are curious about using the NRX AssetHub solution to improve your data quality, feel free to book a demo, and our team would be happy to help you!
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How to Build the Perfect BoM
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