What is the cost of maintaining a digital part?
Summary
Engineering change order signatures involve 15 to 20 personnel) • Hours for electrical or electronic parts = 16 Average of above = 12 hours The intangible costs that are usually not tracked, but impact the bottom line may be from: • Repeating the same mistakes (Einstein’s rule: keep doing it over and over expecting a different result) • Using a part that doesn’t have a supportable performance history The $9,300 estimate above is just for design, engineering and wasted time for having to develop a new drawing for a standard part lost somewhere in the system (an example which reinforces the need for an effective and efficient parts management solution). It also allows for larger part-type buys which provides economies of scale for the company and ultimately benefits the customer. Identifying the right standard digital parts during design is faster and more cost effective than recreating what is already in the system. Most design engineers strive to create innovative products and solve complex problems. It’s not surprising that many people actually believe that once a company pays for material and puts it on the shelf in a warehouse, it no longer costs anything to keep it there.
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