By Michael Pecht
Bring up profitability and decrease chance via potent elements choice and management
organizations realize that know-how could be the foremost to fueling product layout and improvement. yet simply as crucial-if now not more-to a company's good fortune are the choices approximately whilst, what, and the way a know-how could be used. Few businesses have failed as the correct know-how was once no longer on hand; many have failed whilst a know-how was once now not successfully chosen and managed.
components choice and administration is a consultant to expanding corporation profitability and decreasing the time-to-profit during the effective administration of the method of components choice and administration. Taking an "eyes-on, hands-off" method of components choice, this guidebook addresses risk-assessment, decision-making steps, and next administration actions. The booklet covers every thing from methodologies for elements choice and administration, product standards and necessities, and producer overview systems to how one can song half adjustments in the course of the provide chain, reliability evaluation, and environmental, legislative, and criminal issues.
Written by means of a professional expert, instructor, and writer within the box, the booklet allows businesses to:
* hire potent probability evaluation and mitigation techniques
* Make an educated company-wide choice approximately elements choice and management
* pick out elements to slot the performance of the product and different constraints
* Maximize method supportability by means of getting ready for components obsolescence
* increase supply-chain interactions and communications with consumers and regulatory businesses to lessen time-to-profit
laying off gentle on a missed yet crucial point of product improvement, elements choice and administration will provide your company the instruments you want to stay away from the dangers linked to product use whereas selling flexibility, innovation, and creativity on your product improvement.
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Additional info for Parts Selection and Management
4 is a strategy whereby the risk associated with a life cycle mismatch between a product and its parts is reduced [ 5 ] . Part selection depends on the degree of mismatch and the decision to adopt an obsolescence management strategy (for example, redesign, lifetime buy, buy from aftermarket sources, or part substitution). The strategy is intended to mitigate obsolescence risks associated with using the part at some future point in time in the life cycle of the product. If the equipment manufacturer finds the life cycle mismatch between part and product unacceptable, the part is unsuitable and should be rejected.
However, a growing consensus indicates that these standards, while offering an improvement over the military standards through their flexibility and relevance to new technologies, often do not go far enough to control processes and ensure product quality and reliability. Adoption and certification by an external auditing agency does not ensure that a company produces high-quality parts; it only ensures that a quality system is practiced and audited. Electronic equipment manufacturers and systems integrators, who buy parts for use in products, are responsible for ensuring the reliability of the parts throughout their life cycle in their product application.
A life cycle mismatch occurs between a product and its constituent parts if parts are not available to support the product throughout its life cycle. When factors such as lead time, risk of part obsolescence, or estimation of the product market are ignored or improperly judged during Parts Selection and Management 24 the design phase, the consequences can be costly. The net outcome can be a financial loss for the company. A successful life cycle mismatch assessment process is one that prevents the selection of all possible parts that are already obsolete or soon to be discontinued.