How to Automate Obsolescence Management
Decrease Supply Chain Fragility in a Fraction of the Time with Automated Obsolescence Management
As technology, industry, and expertise expand, so does the need for the business sector’s ability to adapt. Constantly updated technology, regulations, and processes raise the importance of ensuring that out-of-date technologies or parts don’t hinder production. Obsolescence Management (OM) is the process of monitoring the risks associated with technologies or parts going obsolete and forecasting the eventual end-of-life stage for all aspects of production.
The traditional method manages this through spreadsheets and manual upkeep. Accelerating advancements in technology and environmental regulations makes it increasingly difficult to not only stay up to date with obsolescence management but to ensure there are no oversights or errors in the process. An automated system frees up valuable employee time, eliminates the possibility of human error, accurately forecasts the life cycle of parts and technologies, and has the latest updates and information throughout the supply chain.
This white paper will explore the benefits of an automated OM system from Source Intelligence and review the pitfalls of manual Obsolescence Management.
In this white paper, we go into detail on the following topics:
- What is Obsolescence Management?
- Ditching the Spreadsheets
- The Pitfalls of Manual Obsolescence Management
- Product Change Notifications
- The True Cost of Cutting Costs
- Transitioning to an Automated Solution
- AI-Powered Forecasting
- BOM Management
- Why Source Intelligence?
- Continuous Communication with Suppliers
- Predictive Impact Assessment
Download our White Paper to learn more: