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Bill Of Materials (BOM)

What is a bill of materials?

Bill of Materials Definition - 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 bill of materials 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 bill of materials 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.

Q&A

Question: What is bill of materials in construction?
Answer: Bill of materials in construction refers to all the tools, raw materials, components, and parts that are involved in getting construction done.
Question: What is bill of materials in product management?
Answer: BOM 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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