Change management is a threat to the company’s bottom line
A company’s bottom line depends on how well it can manage product diversity. A timely response to engineering changes helps deliver products to market on time thus ensuring profitability and customer satisfaction. Managing changes and working with consistent and up-to-date bills of materials throughout the development cycle mitigates errors and bottlenecks. Industrial equipment manufacturers can achieve business success if they:
- Successfully formalize their configuration management processes,
- Implement a change management process that extends throughout their ecosystem,
- Ensure BOM consistency and accuracy throughout the product lifecycle,
- Centralize information in a common repository.
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