This post is the last in a series of four addressing best practices in warranty and contract management. The best practices highlighted in the series, we believe, are core to better warranty and contract management, happier customers, and fatter profit margins.
In this installment, we’ll look at the important role the as-maintained BOM plays in service and how it helps top manufacturers create a continuous loop of product and service performance.
As I mentioned in my previous post, taking a product-centric approach to warranty and contract management puts a single, comprehensive data warehouse of warranty and product information at the center of the warranty lifecycle.
In the product-centric view, manufacturers use product knowledge to help optimize their performance at every point in the warranty and contract lifecycle, from claims processing and tracking through parts returns, supplier recovery, and analytics.
Service teams work to capture new product insights with every warranty and contract event. This information helps create what many in manufacturing have long viewed as something of a holy grail in service lifecycle management: the as-maintained bill of materials. Think of this as a complete and continually updated product configuration, instantly referenced by authorized users from wherever they can securely access it online.
Having the latest and best product knowledge in the as-maintained BOM helps the manufacturer’s service teams save time, reduce errors, and cut costs in service delivery.
The product-centric approach not only serves the warranty chain, it helps drive efficiencies across all service operations. Everyone from service planning to the help desk, from the parts counter to the service technicians working directly with customers in the field, can rely on the up-to date product knowledge in the as-maintained BOM.
And so can the company’s design, engineering, and manufacturing organizations, as they look to the latest product insights, derived from service, which enables them to respond quickly to issues in the field and take measures for future prevention.
This, in the end, is the advantage of product-centric warranty and contract management. And it’s the most compelling reason for adopting the approach. The manufacturer can create a continuous loop of service and product improvements.
The ultimate beneficiaries, of course, are the manufacturer’s customers. They are, after all, the ones who depend most on the best product and the best service for increased value.
Is your organization looking to create a continuous loop of service and product improvements?
- Warranty and Contract Management: Think Bigger. Be Strategic. Outperform the Competition.
- Warranty and Contract Management: Breaking Down Silos
- Warranty and Contract Management: Performance Benchmarking