“We need a fundamentally different approach with the goal of making better products, faster. Supply chain initiatives and many other business initiatives for that matter would better serve the organization when framed in that way” explicates D’Souza. First of all, a company is known because of its products and the faster they bring more competitive, safer and compliant products to market, the more successful they are. This is where Germany-based Makersite is making a difference.
Delivered under the name of the company, Makersite is a cloud-based product data management platform that aggregates all the facets of product management, from product performance to supply chain operations. The platform creates a digital twin of customers’ products—which can be as simple as a recipe, a CAD drawing or a bill of materials (BOM)—and semi-automatically enriches them with millions of data points related to the products’ raw materials, cost, supply chains, and suppliers. “Within minutes, a product’s supply chain can be estimated to an unparalleled level of accuracy and detail,” says D’Souza.
This digital twin is then placed in the “virtual environment” with the latest information on business processes such as manufacturing and logistics, regulations, environmental and health impacts. The outcome is a simulation of the product and its supply chain which can be used to interrogate potential risks and opportunities. “Makersite enables its clients to take an exponential leap in knowledge about their products and leverage that to their advantage, orders of magnitude faster than conventional approaches” says D’Souza. Organizations can consequently reduce their time to market and control risks by interrogating their entire supply chain. The platform also facilitates should-cost analysis to improve supplier negotiations, support make/buy decisions, capitalize on process-based opportunities along with increasing profit margins.
Makersite enables its clients to take an exponential leap in knowledge about their products and leverage that to their advantage
“Makersite has comprehensive product data and supply chain coverage with more than 10k product category models, 38k industrial processes, 600k environmental impacts, 100k materials and their physical properties, 100k suppliers and more,” states D’Souza.
What further sets the company apart is that Makersite is the only platform that brings together people, planet, and profit into a single view to make better business decisions. The uniqueness of Makersite lies in its competence to function on numerous attributes of product management all at once on a single platform.
Makersite worked with a German aircraft manufacturer that struggled to identify suppliers for certified parts. Makersite aggregated several data sources to model the supply chains of the entire aerospace industry, connecting suppliers and their products to the customers they sell to. Beyond identifying certified suppliers the solution cross-referenced products against similar aircraft platforms to find viable partners effortlessly.
While Makersite continues to strengthen their functionality and data offering, their plug-n-play apps put them in a different league to other players. “Apps for us are typically a data-software combination, integrated into the core data model of the platform—so they are plug-n play for our customers,” remarks D’Souza. One of the next apps in the company’s pipeline will allow building detailed supply chains, providing sustainability, compliance and cost information from full material declarations (FMDs) that companies may have already collected from their suppliers.
“We believe that this will have tremendous applications in R&D and procurement teams,” concludes D’Souza.