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What is a BOM and Why is it Important?
If you’re new to manufacturing, you may have heard the terms “BOM” or “BOMs” on a regular basis. Don’t worry, we’re not talking about an actual bomb; that would be a tad concerning. What we’re talking about is a bill of material. So what is a BOM and why is it talked about so much? We’re glad you asked.
What is a BOM?
A bill of material or BOM is a list of all manufactured and raw material needed to build an assembly of more than one manufactured part. It serves as the core of any manufacturing process because it lays out all information required to assemble a part. Not only does a BOM outline what manufactured and raw materials are needed to build a part, but it also includes the equipment and tools needed to build the parts.
Why is a BOM Important?
Because of its importance, you need to make sure you have an accurate BOM so that the manufacturing process isn’t hindered because of inaccurate information. The BOM impacts the purchase of raw material, available inventory and the process of assembly on the shop floor. The accuracy in information helps in making better decisions about manufacturing the product efficiently and cost-effectively, aka getting more bang for your buck. Who doesn’t love that?
An incorrect BOM can lead to a massive headache, wasted money and loss of revenue, for you and everyone on your team. If the value of parts or quantities is entered incorrectly, it could affect the efficiency of the team or the individual responsible for the product. For example, the production team might run out of inventory required to build the product, resulting in a big loss for the company.
To avoid this costly mistake and to learn more about BOMs, discover how Global Shop Solutions CAD/CAM Bill of Materials Management Software can help you simplify your manufacturing.