Have you been wondering if the use of BOMs in your inventory tracking is something that could help you even though you are not a manufacturing company? Are BOMs just for Manufacturing? No. We have clients from all types of industries that need to track parts to a whole.
You just might not need an MRP (Material Requirements Planning).
The MRP is for manufacturers because they are using work-in-process that includes the materials and services/processes/phases used to create a new product like manufacturing. But if you’re not a manufacturer yet have sets or several pieces of inventory that you consume, you could benefit from our inventory management software and our light manufacturing solutions.
The Basics of BOM
BOM = Bill of Materials = tracking parts of a whole; what goes into something.
Tracking the Bill of Materials (BOM) is an essential task for any manufacturing company. It is a document that lists all the components and raw materials required to produce a product. BOM tracking is crucial because it ensures that the company has the necessary materials to fulfill customer orders, helps in managing inventory levels, and aids in cost control.
To track the BOM effectively, companies can use specialized software that helps to manage and organize the components and materials required for each product. The software allows manufacturers to create, update, and track BOMs in real-time, ensuring that the information is always accurate and up-to-date.
Another essential aspect of BOM tracking is ensuring that all the materials are available when they are needed. This requires close coordination between the production team and the procurement team to ensure that materials are ordered in time. Companies can use automated systems that notify the procurement team when materials are running low, ensuring that they are ordered before they run out.
But Who Else is the “BOM”?
Inventory tracking using Bill of Materials (BOM) is often associated with manufacturing companies, but it can also benefit other types of businesses. By utilizing BOMs, companies can better manage their inventory levels, reduce waste, and improve their overall efficiency.
Retail businesses, for example, can use BOMs to track the components of their products and ensure that they have enough stock to meet customer demand. This can help avoid stockouts and lost sales, while also minimizing excess inventory that can tie up valuable resources.
Service-based companies can also benefit from BOMs by tracking the materials and supplies they use to provide their services. This can help them better manage their expenses and ensure that they have what they need to deliver high-quality services to their customers.
Even non-profits can benefit from BOMs by tracking the materials they use for their programs and services. This can help them better allocate their resources and ensure that they are maximizing the impact of their work.
Overall, while BOMs may seem like a tool primarily for manufacturing companies, any business that deals with inventory can benefit from their use. By tracking their inventory with BOMs, businesses can improve their operations and better serve their customers or clients.
Flowtrac solutions include packages specifically made for and used by many types of manufacturers. We support the successful tracking of inventory through the building of products like cladding for skyscrapers and the drones that can fly around to inspect them.
However, we also serve a multitude of other companies and organizations that need a software that can delve a little deeper into the top level of their inventory to get the most control and reportable insight.