LONDON (July 14, 2016) – IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions, today announced the launch of its next-generation Bill of Materials (BOM) analysis tool. It is designed to help manufacturers of electronic products proactively manage component obsolescence, understand compliance to environmental regulations, extend supply chains, and identify at-risk components throughout the entire product cycle. The IHS BOM Intelligence service database now encompasses more than half a billion electronic components, from integrated circuits to capacitors.

“Managing electronic components from design through production is more crucial than ever, as obsolescence, counterfeit products, and environmental non-compliance risks continue to grow,” said Bob Braasch, Senior Director, IHS Markit. “An effective BOM analysis system helps organizations speed the pace of new product introductions, avoid costly production interruptions or product redesigns, and improve sustainability over extended service lives.”

Using the IHS BOM Intelligence tool helps companies effectively eliminate redundancy, avoid excess inventory and component shortages, and reduce the risks of using counterfeit parts, so they can meet production targets and effectively manage costs. In addition, the BOM Intelligence alert notification system identifies key component part changes that can affect designs, product lifecycle, and compliance to environmental regulations.