We are in the Age of Experience, where consumers demand customized products. To make the personalized products their customers want, global manufacturers must massively shift their production techniques. It’s not just about embracing a new model: manufacturers must also ensure pricing remains competitive while determining how to manage the proliferation of parts and components that must be at the ready to get products to the customer as fast as possible.
One way to control costs is through parts standardization and reuse. Procurement departments can play a critical role here, by participating in design and engineering decisions as early as possible. Artificial Intelligence (AI) offers the means to empower procurement teams, allowing them to boost collaboration with engineering which in turn opens new paths to performance and cost reduction.
In the most recent issue of Microsoft’s The Record, Dassault Systèmes’ Laurent Bertaud – director of product strategy for NETVIBES–EXALEAD – wrote about how organizations can leverage AI to improve their sourcing and standardization strategy. The article looks at how procurement professionals have the potential to save millions for their company by embracing AI to improve sourcing intelligence. This happens by having tools for gaining rapid visibility into parts and being able to compare parts anywhere inside the enterprise. These tools use 3D as a universal language that helps procurement teams more easily understand engineering requests, analyze past purchases and identify all possible commonalities.
Click here to read the full article, which includes examples of several companies who have saved millions using this approach…and how organizations can leverage AI and other cutting-edge technology to realize similar savings that can be devoted to innovation.
To discover more about the solution behind the savings, we invite you to download the Optimize Sourcing & Standardization of Cross-Program Parts white paper. It looks at how EXALEAD OnePart and PartSupply on the 3DEXPERIENCE Marketplace can help reduce costs and boost productivity by automating and improving parts classification, enabling more informed sourcing decisions and increasing parts reuse by designers and engineers.
Download the white paper now to learn how to manage the business challenges that come with the move to mass personalization.
This post originally appears in Dassault Systèmes corporate blog, 3DPerspectives