Product Management
Bill of Materials (BOM)
What is a bill of materials (BOM)
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Definition of a bill of materials (BOM)
A bill of materials (BOM) is a complete inventory of the raw materials, components, and parts that are involved in the manufacture of a product. The exact quantities for each item should be listed in a BOM, too.
Creating a BOM helps businesses estimate the cost of developing a product, as well as plan purchases, avoid wasting money on unnecessary items, and keep control of their inventory.
A BOM should be created early in the lifecycle of a product to ensure teams have everything they need and avoid delays. It’s vital to limit the number of people able to change a bill of materials, to avoid disruptive mistakes or oversights.
General FAQ
What is bill of materials in construction?
Bill of materials in construction refers to all the tools, raw materials, components, and parts that are involved in getting construction done.
What is bill of materials in product management?
Bill of materials is often used in product management to establish from the inception of a product/feature or initiative what resources are needed in order to complete the project.
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Experience the new way of doing product management