Commercial and Defense/Aerospace OEMs (Original Equipment Manufacturers) face daily risks from component obsolescence and the resulting impacts on the longevity of their end products. Regardless of the lifecycle length of the end product, all OEMs have some measure of obsolescence management in place in order to mitigate the risks and costs of diminishing components. Historically, defense, aerospace and commercial OEMs with long end product lifecycles have placed greater emphasis on a well-managed obsolescence strategy. Conversely, OEMs with smaller end product lifecycles have placed less emphasis on sophisticated proactive approaches to obsolescence management, relying mostly on reactive measures.
This whitepaper makes a case for all OEMs, regardless of size, to use proactive obsolescence forecasting measures. This whitepaper also illustrates the risks of using component lifecycle forecast data points from the manufacturers themselves, versus using forecasts based on algorithmic & historical data points from independent electronic component databases. With the growth and sophistication of electronic component databases growing yearly, lifecycle forecasts, intelligent component selection, and overall obsolescence mitigation are within reach of all OEMs.