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When it comes to procuring new material or starting a new production process, BOM (Bill of Materials) plays a key role. It is a complete written plan of all production processes, starting from the procuring of materials to the actual manufacturing. Bill of Materials Management Software helps to create a complete bill of materials that includes all the information regarding the materials required to make the product.
Generating a BOM can be a detailed process, but the bill of material software can help you streamline the procurement of raw materials. In this blog post, we will look at the key features of the BOM system to look for and also share the 5 best BOM Management Software details.
What Is Bill Of Materials Software?
BOM software is a collection of tools that help you prepare a list of all the materials required to make finished goods. The list of materials displayed in the bill of materials management software is commonly called the "list of ingredients.” BOM plays an important role in good manufacturing practices and distribution processes and is tracked as part of the ERP (Enterprise Resource Planning) system.
Creating multi-level BOM allows manufacturers to create subprocesses for the list of semi-finished goods. Many manufacturing businesses prefer to use a bill of materials management software to control the creation and storage of BOMs. The software makes sure that no material or steps are left in production planning. You can access updates and manage documentation in BOM software as well.
Why Is BOM Management Tool Important?
SMEs (Small and Medium Enterprises) often use spreadsheets to create and maintain BOMs. As they start growing, engineering project managers need to create multi-level BOMs to meet the needs of different audiences. In this case, BOM management manually becomes difficult.
The companies not having proper BOM management tools suffer from shop floor assembly process, inventory on hand, and procurement of raw materials. Without proper BOM management software, it becomes difficult for the design team to collaborate with the manufacturing department. This type of management software helps manage resources and reduce unnecessary spending.
Key Features To Look For BOM Management Software
Bill of materials management software features may differ depending on the industry and the production process. For manufacturing needs, it is recommended that you choose BOM software with the following features:
1. Data Management
The BOM management solution should have well-defined data frameworks that are easy to learn. It should contain a design module that allows the engineering team to easily create the multi-level bill of materials. Choose a BOM management software that helps you with this.
2. Collaborative Workspace
Collaboration is very important in the manufacturing business because there are several departments assigned to one work. Choose a bill of materials management software that provides a common workspace for all the departments. This will help you improve productivity for your business.
3. Revision And Change History
Your software should also record changes in the production design and notify all the departments. It should show historical changes that have happened throughout the development process. It will be useful if anyone wants to reuse and analyse the previous product design.
4. User Views
Manufacturing businesses have several departments. Not every user needs to access all the details. Therefore, your bill of material software should have user-defined views. A good BOM and Inventory management software allows you to restrict access to some specific employees, which increases security.
5. Document Management
Your BOM software solution should have tools like CAD (Computer Aided Design) to upload your design easily. It should also automate your documentation process so that you can easily access the data of resources you want.
6. Cost Analysis
Out of many important features of BOM management software, another one is cost analysis. This allows you to track the cost of each component. It allows you to calculate the labor cost and the time consumed in making a single product. Your BOM management software should also deliver data on the production cost of sub-components.
5 Best Powerful BOM Management Tools In The Market
It is hard to find the BOM software that has all the features that you want. But here is the list of powerful BOM tools that can fit your manufacturing requirements:
1. TallyPrime
TallyPrime is an ERP software that allows you to effectively streamline your accounting process. You can easily create a bill of materials while defining the raw materials, assembly parts, and components with the correct analysis of quantities. However, the software lacks the flexibility to manage changes with production processes and other planning and might be too expensive for MSMEs.
2. TranZact
TranZact is a bill of materials management software used by Indian SMEs. It offers a multi-level BOM feature that allows you to easily create subprocesses under the master Bill of Material tool. TranZact comes with built-in templates that help you maintain all the BOM while importing data from other modules quickly. This software is made for Indian Manufacturing MSMEs.
3. Odoo
Odoo is a modern accounting software that helps automate various accounting processes, including bill of materials. You can manage your inventory process, check the stocks of raw materials and other resources, and plan your production process accordingly. The Odoo BOM module allows you to analyze such requirements and provide easy BOM creation beforehand.
4. Katana
Katna is a cloud inventory software that allows you to access all the data related to your manufacturing needs. Its production planning module provides accurate data on the resources required for manufacturing and allows easy creation of BOM through pre-defined templates.
5. MargERP
MargERP is GST billing and accounting software that is specially designed for SMEs. Its simpler interface allows the manufacturer quick access to the BOM structure and creates the bill effectively. However, it lacks security and has limited options for sharing files with an outside organization.
Does Excel Work As A BOM Management Tool
Most manufacturing businesses, from SMEs to big enterprises, have used Google Sheets or Mircosoft Excel to manage their BOM. Some are still used as a bill of materials management software to meet their daily requirement. But the question is does Excel work as a perfect BOM management tool?
To improve the manufacturing system, businesses are always moving towards more advanced solutions. These are mostly cloud-based software that allows you to access the data at any time and anywhere using a single device. They automate various operations like invoice management, reporting on raw material required, and cost analysis.
Most manufacturers are familiar with Excel’s interface, but after a while, it becomes difficult to create and update a BOM. A Bill of Materials Management software has an inbuilt Excel spreadsheet that works seamlessly for your BOM management. You can maintain the raw material requirements and export them to generate invoices, perform cost analyses, and perform various other operations in BOM. Most importantly, it allows you to take control over sub-processes in production by creating multi-level BOM.
BOM Management Solution With TranZact
Bill of material management can be complex to handle as a manufacturing business grows. Digital software will help you automate your data. TranZact provides an integrated bill of materials management software for flexibility in maintaining and monitoring BOM-related data. It can also automatically generate the list of components to analyze, take out cost, and identify requirements of the manufacturing process planning along with a Multi-level BOM.
You can also find various modules that help you with other operational tasks like sales, purchase, planning, and inventory. TranZact also helps you automate invoice generation, which can be easily shared through emails or WhatsApp. You can access your BOM and optimize your inventory accordingly. It is super easy to use, and it is cloud-based software. You can access it through your mobile or laptop from anywhere.
FAQs
1. What does BOM mean?
Bill of Materials (BOM) is a complete plan of your entire production. It contains a complete multi-level list of all the raw materials required to make a particular good.
2. What does BOM bill of materials consist of in software?
The bill of materials consists of:
- Data management module
- User-defined view
- Collaborative workspace
- Document management module
- Revision and change history
3. Is BOM management software suitable for both small and large enterprises?
Yes, BOM management software is suitable for both small and large enterprises because it can automate invoice generation and provide better collaboration among suppliers and stakeholders.
4. What is the difference between bill of material software and manufacturing software?
The difference between bill of material software and manufacturing software is BOM provides details of materials to be used for manufacturing. Manufacturing software is used to manage, schedule, and execute the production process to meet the deadline.
5. What features and functionalities are included in the bill of material software?
Features and functionalities included in the bill of material software are:
- Planning the purchase of raw materials
- Estimating the cost of procuring the resources
- Managing the inventory
- Minimizing production delays and waste
6. What is BOM integration?
BOM integration is the process of implementing BOM software in a manufacturing business. This helps to have clear visibility of inventory and an understanding of the requirements of raw materials.
7. What are the 4 items that make up a bill of material?
The 4 parts that make up a bill of material are:
- Product code and name
- Production description
- Parts name and quantity
- Specification and features
8. Can BOM management software integrate with other business systems?
Yes, BOM management software integrates with other business systems through integrated modules and provides easy share of data within the system.
9. How do you structure a bill of materials?
Structure a bill of materials by determining the type of BOM you want for your manufacturing business. You can include the details of the parts description with quantity, estimated cost of the materials, and unit measurement of each item.
10. How do I create a software bill of materials?
Create a software bill of materials by including the following components:
- Include internally developed components
- Integrate open-source and commercial external software
- Add libraries and frameworkConsider firewalls for security
