Business Analytics in Sourcing & Standardization
Reorganizations, mergers, global projects, and new innovative products are all opportunities to create thousands and thousands of new parts. However, the proliferation of parts leads to increased costs regarding design, manufacture, test, source, and storage.
Consolidating and classifying those company assets, identifying the right master parts for reuse, and ensuring that engineering selects the preferred part from the preferred vendor were difficult challenges in the past – often without a satisfactory outcome.
Today, new Big-Data and Analytics technologies are available to face these challenges. These search, cluster and compare technologies help to realize savings in purchasing and engineering at large scale in short-term.