High Demand on Technology Supplies
In today's digital era, as the number of consumer and industrial applications of the Internet of Things (IoT) explodes and the demand for automation and 24/7 connectivity appears insatiable, it seems like every company in every industry is becoming is a high tech company. This is good news for technology suppliers. The demand for their electronic components, integrated sub-systems, specialized electronics and power supplies is at an all-time high.
Driven by smart electronics in sectors like industrial, automotive, healthcare, and transportation, the global electronic components market is expected to reach US$233.1B by 2020
Keep pace as the demand grows faster
However, with this growth comes a demand to deliver smarter, smaller, faster solutions. As OEMs either launch or expand their portfolios of smart and connected products, they are placing pressure on suppliers to deliver more plug-and-play functionality at the board and modular level. They are also demanding more "small power/low power" innovation to keep remote sensing devices up and running.
In addition, customers are demanding not just more sensors but multi-purpose sensors and technology that can support the integration of sensor data from multiple devices. They want smarter devices that support edge computing through standalone processing capabilities. They want more compact designs and greater wireless networking capabilities and options.
While this pressure for technical innovation mounts, customary market pressures remain constant, with customers expecting competitive pricing, customized solutions, and rapid response times. The challenges are formidable, but there are many strategies that can help suppliers keep pace with the changing market.
A Changing Components Landscape
- Ready-made solutions
- Multi-function sensors
- Small power
- Edge computing
- Wireless connectivity
Win More, and More Profitable, Business
One strategy is to standardize and automate core business processes. This begins with RFQ/RFP process. With increasingly complex and customized products and a dynamic global market, yesterday's ad hoc, manual bid processes can lead to slower and less accurate opportunity assessment, and less competitive, higher risk bids. To ensure complex requirements can be met - and met profitably - while maximizing win ratios, bid processes should be standardized, automated, and fully integrated with technical and business systems.
The 3DS Project Awarded Solution
Dassault Systèmes' Project Awarded solution provides a fully integrated global platform to help you better assess opportunities and boost win ratios. It can help you more easily and accurately evaluate opportunities, develop more competitive proposals, streamline packaging and submission, and better track fulfillment from initial submission to final delivery.
Reduce product time-to-market and order fulfillment
To help ensure that contract awards evolve into preferred supplier status, minimizing time-to-market and order fulfillment cycles remains as important as ever - even as product complexity mounts. As with the RFP process, standardizing and automating requirements management and project management have proven to be effective strategies for meeting these market demands.
Strong Requirements Management
Implementing a strong requirements management (RM) strategy can help make product complexity more manageable while minimizing time to market. Integrated RM systems can help you capture customer-centered requirements, and distribute and enforce them across all design, engineering, testing, and order fulfillment cycles.
This reduces the number of potential issues and change orders, boosting quality while accelerating cycle times.
Leverage “Invisible Governance” for an agile development organization
In addition to automating traceability and enforcement of customer requirements, an automated project management solution can also help boost quality and efficiency. Today's dynamic dashboards can provide automated, real-time reporting on key schedule, milestone, resource, and cost metrics to keep projects on schedule.
In effect, they provide "invisible," or non-intrusive, governance that helps workers better adhere to schedules and enables managers to optimize resources and detect and address potential bottlenecks before they impact operations.
Case Study: DONG YANG E&P
Watch the video to learn how DONG YANG E&P used the automated requirements management, project management and other collaborative tools in Dassault Systèmes’ Accelerated Device solution to boost innovation and increase early detection of design issues from 5% to 45%, enhancing product quality and helping to minimize downstream manufacturing issues.
On Demand Webinar: Finding PLM to Fit Midsized Manufacturers
PLM has long been used by OEMs to improve product data management, project management, requirements management and many other essential product lifecycle processes. Now, more suppliers are turning to advanced PLM to better manage increased product and market complexity.
Watch our Finding PLM to Fit Midsized Manufacturers on demand webinar to find out how midsize high-tech companies can leverage PLM. The panel discussion features industry expert Jim Brown, President of Tech-Clarity, and Garth Coleman, Vice President of Cloud and Strategic Initiatives at Dassault Systèmes.
Reduce costs of customization and respond market dynamics faster
The increasing demand for electronics and software-driven functions, together with the increased demand for customization, are making tight collaboration between mechanical engineers, and between mechanical engineering and electronic engineering groups, essential to market success.
However, orchestrating intra- and inter-disciplinary collaboration can be a major challenge. One strategy for overcoming this challenge is to provide a common platform for all disciplines. With a single, unified point of access for all product, design, engineering and test data, you can significantly increase cross-disciplinary collaboration. It also enables the integration of mechanical and electronic design and validation workflows, boosts part and design re-use, and provides complete traceability for all engineering changes.
On Demand Webinars: Mechatronics Collaboration, and Connecting the ECAD & MCAD Worlds
Watch these two webinars to learn more about how a unified platform can help you orchestrate your collaboration processes on a unified platform, and help you grow faster and remain competitive in a fast-changing market.
Case Study: NGK Spark Plug Company Limited
Learn how automotive parts manufacturer NGK was able to develop a secure, global environment for all design data associated with its increasingly diversified set of products, and to link its Design Information Department with worldwide production sites.
Case Study: Bosch
Discover how Bosch's Automotive Technology Division standardized its development process and implemented role-based access to centrally-managed electronic components data.
“You could say the library is the brain of our development. All the information our developers need for their work is stored centrally, so they know, for instance, whether they can use a component for a new development or when it has been discontinued.”
Sustainable growth by mastering complex system development
The drive for miniaturization seems relentless, even as customers demand more functionality, processing power and energy efficiency in sensors and system components. To cope, suppliers are leveraging the time-tested systems engineering principles and practices, and tapping into simulation as an effective way to imagine, design, test and refine products virtually before launching expensive physical development.
Systems engineering has evolved to help manage the trade-offs among competing subsystems in order to create a product with an optimal balance of performance, functionality and price. To be successful, systems engineering requires true collaboration across disciplines. And this collaboration increasingly extends beyond the boundaries of an organization. As OEM products grow in complexity, suppliers increasingly need to attend closely to the interfaces between their components and the larger subsystems and systems in which they will be incorporated.
Optimize product performance faster with realistic virtual testing
Realistic simulation is a valuable complement to systems engineering in developing complex products. It dramatically improves the ability of designers to understand and anticipate the behavior of their product in standalone form, and as part of a larger system, helping them better manage trade-offs. When simulation is integrated throughout the entire development cycle, it can reduce costs and accelerate time to market as well - by minimizing the need for physical prototyping and testing.