Manufacturers are sitting on massive stores of product development data, which resides in disparate systems within organizations. Engineers are wasting time looking in multiple places for this data to support the product development process.
The Cost of Inaccessible Data
- 25% of an employee’s time is spent finding and analyzing information;
- 61% of knowledge workers access four or more systems on a regular basis;
- 13% need to access 11 or more systems to get the information they need to perform their jobs; and,
- 44% of time engineers can't find what they are looking for.
All of this redundant search time results in sub-optimization of top- and bottom-line performance due to:
- Lowered productivity: A rise in non-value-added per-unit costs due to productivity-draining inefficient manual searches and design rework;
- Redundancies: A stealth cash drain caused by duplicated work and parts proliferation;
- Sub-par quality: Increased risk for quality problems and out-of-compliance complications; and,
- Longer work cycles: This can cause manufacturers to miss both first-to-market opportunities and customer requirements because information can't be found quickly and efficiently.
This white paper examines the issues that drive each of these problems and describes how manufacturers using an enterprise search solution can change negative results into positive outcomes including:
- Reducing search time for engineers by more than 30%
- Saving $4 for every $1 spent
- Realizing a projected cumulative savings of $30 million in year three after implementation
- And much more!