Part numbers provide only a tiny slice of information.  Parts often have identical or similarly-shaped variants with a different finish, made from different material or purchased from multiple suppliers, each with their own part number.  But this information is usually unavailable to customers or distributors.  In the case of a stock-out, customers are often told parts are unavailable or have to ship from a distant warehouse, without knowing a variant is available if only they are willing to accept a different color or pay a little more for a more durable material.  In time-critical situations a customer might even be willing to modify a part instead of wait for the original.  

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ShapeID allows a QR (quick read) scan, RFID tag, or other embedded technology to not only identify the part, but also performs a search for identical and highly-similar parts that might be useful substitutes based solely on their similar shape.