New Product Introduction comes with the challenge of sourcing parts your organization has never procured. Lacking historical price benchmarks, lead times, years to end of life, and other relevant data insights makes for difficult determination when trying to source reliable parts at fair prices in the market.
You can use Alternate Options to input of new parts and return critical benchmark insights to support new sourcing activities. This can be done in real-time in Alternate Options with this simple process:
- Download the template which is just a one-column part list
- Input your new or existing parts for which you seek alternate options
- Save and upload your file
- The top interface confirms you are looking for alternates against your file and presents these options to you in the series of tables below - one per part match.
Alternate Options has Lead Time and Years to End of Life (YTEOL) metrics so you can review that information alongside recommended sourcing options for new parts:
Follow-up to Sourcing Part Alternates
Similar on-demand part matching functionality is available in Benchmarking if you need to develop pricing metrics as a negotiation strategy for new parts you would like to source.
For more information, please see: How can I upload parts for on-demand benchmarking?