Growth predicted for software aiding ‘cross-plant’ manufacturing
by July 6, 2016 4:34 pm 132 views
Cross-plant manufacturing will be one of the primary drivers of growth in the global bill of materials (BOM) software market, according to a new report from data research firm Technavio.
The firm forecasts a compound annual growth rate (CAGR) of 8% from 2016-2020. Leading the charge will be a cross-plant manufacturing increase.
Currently, most products are manufactured in different locations and then assembled with it being difficult for a single vendor to manufacture products with different specifications and requirements in a single location and supply them to different locations simultaneously.
The maintenance of data consistency and security gets even more complex when a product goes through two or more plants. The process requires reliable collaboration between manufacturing, engineering, research, and design units. BOM software ensures efficient data communication between these units. For instance, it allows the engineering unit to communicate with the production unit to resolve issues related to quality, design changes, specifications, and manufacturing.
Other contributing factors to the BOM growth ahead include improved efficiency of supply chain; increase in mass customization; and a growing need to enhance communication among business units. More on how each factor specifically contributes can be found at this link.