Arena Solutions and Paradata today announced the integration of Arena with Paradata's BOM AdvantageTM. The integration provides real-time, verified insights into thousands of suppliers and millions of parts to improve product lifecycle business decisions while lowering costs and reducing risk.
"We are excited to offer a seamless integration between Arena and Paradata that quickly immerses our customers' strategic procurement teams into developers' component selection processes," said Steve Chalgren, EVP, Product Development, and Chief Strategy Officer at Arena. "While a successful product introduction requires high-quality design and quick transference to manufacturing, a successful product company requires a sophisticated procurement/component team with tools that provide immediate supply chain risk assessment, environmental compliance and cost negotiating information. Paradata does that."
Paradata's advanced big data and deep machine-learning platform ingests vast amounts of public and private data to produce instant updates on part and component costs, compliance, lead time and other vital go-to-market information. By taking advantage of Paradata's big data analytics, Arena can offer its customers automatic access to verified insights on parts and components, and improve collaboration across all people, teams and departments involved in critical product lifecycle management decisions.
"Data veracity, recency and comprehensiveness is key in enabling companies to collaborate and compete more effectively in an era of constant change and disruption," said Debbra Rogers, CEO of Paradata. "As the first company in our emerging partner ecosystem, Arena Solutions is ideally suited to help customers gain a competitive edge through improved process innovation and product differentiation.Together, we can transform both the design and manufacturing of complex electronics products."
As a result, customers gain the following benefits:
- Component discovery and analysis that take minutes–not days or weeks
- Validated, pre-loaded data about parts and prices that provide a trustworthy data source
- Data verification and enhancement that increases data quality
- Prescriptive and actionable insights
- Continuous curation of parts information
- Harmonization and verification of public and private data, enriching information
- Opportunities for cost savings by offering alternative parts at lower prices
Availability
The Integration between Arena and Paradata's BOM Advantage is currently available and ready to be deployed.
Arena Solutions' all-in-one product development platform with Paradata integration is available immediately for new and existing customers. For more information, please visit http://www.arenasolutions.com/pdfs/products/plm/arena-paradata-datasheet.pdf
