Sign up to save your podcasts
Or
Share Direct materials sourcing technology a hub for manufacturers
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
Direct materials sourcing technology a hub for manufacturers
Direct materials sourcing is a critical process in product design, engineering and manufacturing. That was never more apparent in 2017 when Tesla began to ship the Model 3, its first electric vehicle meant to be affordable for middle-income buyers.
The company had set two ambitious and unprecedented goals: building an EV for a base price of $35,000 and completing the development cycle in three years, half the typical turnaround in the automotive industry. The compressed timeline put tremendous pressure on employees to source quality parts economically and on time while keeping up with the tight design and production schedules.
But Tesla was working at a disadvantage. Much of its sourcing and procurement was still done manually, and an IT gap existed between the product lifecycle management system, where engineering and design were managed, and the ERP.
In this episode, we explore the impact inefficient procurement can have on profit margins, how a direct materials sourcing platform can close the technology gap for manufacturers, and the role played by AI.
Featuring: Spencer Penn, Co-founder and CEO, LightSource
In today's episode, we'll also cover:
References:
To learn more about enterprise applications, check out Search ERP.
View all episodes
By Informa TechTargetDirect materials sourcing is a critical process in product design, engineering and manufacturing. That was never more apparent in 2017 when Tesla began to ship the Model 3, its first electric vehicle meant to be affordable for middle-income buyers.
The company had set two ambitious and unprecedented goals: building an EV for a base price of $35,000 and completing the development cycle in three years, half the typical turnaround in the automotive industry. The compressed timeline put tremendous pressure on employees to source quality parts economically and on time while keeping up with the tight design and production schedules.
But Tesla was working at a disadvantage. Much of its sourcing and procurement was still done manually, and an IT gap existed between the product lifecycle management system, where engineering and design were managed, and the ERP.
In this episode, we explore the impact inefficient procurement can have on profit margins, how a direct materials sourcing platform can close the technology gap for manufacturers, and the role played by AI.
Featuring: Spencer Penn, Co-founder and CEO, LightSource
In today's episode, we'll also cover:
References:
To learn more about enterprise applications, check out Search ERP.