NEWS LEXI EVENT
BOM Management in Procurement
Lexi’s BOM management solution enhances procurement processes by providing transparency and structuring information effectively. With built-in checks and balances, it empowers procurement teams to focus on strategic goals and operational efficiencies, ensuring compliance in sourcing and managing materials for optimal performance.
Many procurement teams face challenges with outsourced manufacturing, often relying on Excel for data sharing. This can lead to transparency issues, quality concerns, and costly pricing errors. Lexi’s solution provides the clarity you need, transforming scattered raw data into actionable insights. Starting from your product, you can analyze and optimize everything from components on a PCBA to entire product families in the market.
How Lexi helps:
- Spend Management
The first step is cleaning your spend data to provide accurate consolidated spend data for analytics for each supplier, component manufacturer, and distributor. With end-to-end transparency to your suppliers and sub-suppliers, you’ll gain full visibility into costs and identify savings opportunities. - Price List Monitoring
Monitor price development for each product and related material cost on a quarterly basis, with consolidated impact reporting to track cost avoidance and ensure contract price compliance. - Savings Funnel
Leverage the Lexi Savings Funnel to identify and implement cost reductions, focusing on both production costs (Labor, Overhead, Profit) and BOM cost per material. Use the Lexi Savings Funnel to cut costs by up to 15% in the first year, then monitor cost avoidance and achieving 1-2% in additional yearly savings.
- Supply Chain Resilience
Adopt a proactive approach to mitigate supply disruptions by leveraging insights and trends on all materials assembled by your EMS suppliers. - Component Database
A comprehensive global database covering all materials and components with AMLs and PMLs, prices, technology and including “a part of” functionality. Plastic, mechanical parts, PCBs, and vast amounts of information can be added to build better datasets. - Suffix Management
To be able to monitor and act correctly, suffix management is essential. A fuzzy search may work for EMS suppliers, but to keep product liability on A and B components, suffix management is necessary in a world-class engineering department. - Data Quality Management
Lexi cleans, maintains, and optimizes your component data to the agreed standards required to meet the goals of your R&D department and Procurement departments to be able to act more fact-based.
