Do you sometimes feel that your engineering team has taken a trip into a black hole? Feeling the effects of time lost, searching and sourcing internal standard components that should be easier to locate?
You may need a part data management system if:
- Your engineering database has volumes of information. Most of which is out of date or inaccurate; creating a time wasting “black hole” for your design team.
- Engineers have accidentally selected an “old” internal standard CAD file which there has been a revised or updated version, creating design errors.
- New members of the team need weeks, months or years to learn the internal CAD filing system in order to work at full capacity.
- Your filing system has divided your team and the 3D CAD information into silos, preventing collaboration and efficient use of data.
- Your purchasing department has little to no control over the parts selected by engineering.
Now you see that you have a need for internal parts management and 3D CAD catalog system. How do you illustrate the benefits to your company?
Introducing a parts data management system into your manufacturing and engineering environment can be a big investment of both time and resources. We have used our past customer success to build an ROI calculation formula which can be tailored to companies large or small. Follow the ROI calculations below based on a medium sized manufacturing business, to see how you can monetize the benefits to your organization.
Example ROI Calculations: Based on conservative results experienced by current clients.
How many parts do you have in your database? 100,000
Estimate the number of duplicate parts in your database? 35%
What is the cost of introducing a new part in your company? $300
What is the annual maintenance cost for a part in your company? $25
How many parts are really active in your company? 50%
How many new parts are you creating annually? 2,500
What time savings do you expect from CADENAS PARTsolutions when you create a new part? 35%
(For reference, our average value is 37%)
How many new parts do you expect to avoid creating with CADENAS PARTsolutions? 25%
(For reference, our average value is 23%)
Annual savings from reduction of duplicate parts in database: $437,500
This is calculation is just one example of ROI for a parts data management program. Ballpark savings for small engineering teams is in the hundreds of thousands of dollars. Large engineering teams or multiple teams across the enterprise can easily achieve ROI in the millions. Contact us for a free ROI analysis.
Turn that pile of parts into a well oiled machine.
When you break down the numbers into smaller pieces, you really see how solving many areas of lost time and duplication within your engineering process can contribute to a very large savings for your organization.