Importance of Lifecycle management in Component Engineering

An important aspect of component engineering is lifecycle management, which is crucial to determine whether a component should be included in a new design. Every component has a different lifecycle status, such as preliminary, active, NRND, EOL, and obsolete.

• Preliminary (Just Introduced to market)
• Active (Growth and Maturity stage)
• NRND-Not recommended for new design (Saturation stage)
• EOL-End of life (Decline and phase-out stage)
• Obsolete (Obsolescence stage)

Every manufacturer or the OEM will have a check on lifecycle of parts, so that the production business runs smoothly, also helps manufacturer to set requirements.

• Every year thousands of components change their lifecycle stages. It may turn into Obsolete, NRND or EOL or due to decline in sales, the lifecycle status may change.
• In some cases, obsolete parts will be available from 3rd party distributors at high prices.
• As a result, there is disruption in the supply chain that affects OEM’s by delaying the project outcome. This also costs millions of dollars to design or re-design new products.
• As a result, OEMs need to review, track, and update the product lifecycle regularly

The combination of our industry knowledge with expertise in product design, data transformation, process automation, and multi-lingual supplier engagement enables us to address component engineering needs more efficiently. We provide you effective product lifecycle information which will:

• help you to keep away the disruption of supply chain
• helps to reduce the procurement risk
• Helps in inventory planning more efficiently
• Efficient overall plant productivity
• For risk parts (Obsolete, NRND, EOL) we will provide alternate parts or second source parts.

 
Our component engineering team has extensive experience working with ROHS, REACH compliance for your products. We offer Component Engineering Services for companies looking to sustain legacy products on the market, reduce procurement costs, optimize supply chains, and streamline business operations.