Whether you’ve just decided to corral all your PLM initiatives under one organization, or you’re already down the road and have created your governance model, completed your strategy and gotten everyone excited (and have the money approved) to move forward, what are the biggest risks to success in a large enterprise with PLM?
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Tags:
PLM Investment,
PLM Strategy
You probably constantly hear generic benefits you can realize through PLM (Integware has probably thrown a lot out there over the years). But, do you ever hear the real world value and results that can be achieved?
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Tags:
PLM Consulting,
PLM Results,
PLM Metrics,
PLM Value,
Global PLM
Over the past 20 years, it seems that technological improvements have been occurring at a constantly increasing pace. As soon as you finally learn to use all the features of you new smartphone or table, its already been rendered obsolete by a sleeker, faster, smarter, "easier to use" version with twice or three times the memory.
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product lifecycle management
Product lifecycle management programs are essential for companies interested in compiling data on product creation, development, and marketing that can be used during the production of other products, to reduce both time spent on production, and the costs associated with production. The software associated with PLM solutions utilizes engineering tools to allow several processes to take place simultaneously, making product production as much as 70% more efficient. It's hardly surprising that the product lifecycle management industry is worth about $25 billion. There is little argument to be made about whether PLM solutions are worthwhile. Instead, we're going to focus on PLM implementation plans for businesses that are ready to take advantage of quality PLM programs.
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Tags:
PLM implementation,
product lifecycle management
No product was dreamed up and launched in the same week. In fact, very few products are conceptualized and released even within the same year. It requires a lot of foresight to be able to examine every possible angle of a product before you make it available for customers to begin using, and all that scrutiny takes time -- which can end up costing your company money. But that's why product lifecycle management was put in place, to help you work more efficiently as you head toward your big new launch.
Cutting down on time
When you're running a business -- as the old adage goes -- time is money. Product lifecycle management systems allow you to expedite your researching phase, which cuts down the time it takes for the entire process of launching a product. In other words, a PLM system can record plenty of data, then organize it to reduce the time it takes to develop, and finally release, a product to the public. That means the entire process is covered, from the development of the initial concept all the way through design and manufacturing and, finally, the product's use.
Keeping the customer in mind
So, how do PLM companies organize these systems to keep the user at the forefront of the focus? Think of it this way: a user's relationship with any product has become very much an exact science. What PLM systems have allowed businesses to do is keep the user's best interests in mind -- before they spend large sums of money developing and implementing a new product. In short, they significantly speed up the process to help a company quickly develop the best products it can.
Protecting the potential user
Imagine sketching out an idea for a new product on a cocktail napkin, then creating it the very next day. You wouldn't simply put it out on the market the day after that, because you wouldn't know its potential problems, or if there are user liabilities to consider. Any new product demands a bit of rigorous testing in order to ensure users can't be harmed accidentally by using it. This is another important way PLM systems have been helping out businesses.
Tracking your progress
It's not just the product launch you have to worry about. There's a lot of money being spent on these items for them not to be financially worth it in the long run, so PLM systems can also help you keep tabs on product costs, sales history and any other numbers that play a key role in generating sales and revenue. If it's not going to be worth it, then why bother investing your time or money? PLM systems can help you determine if you're making a move that's both logically and financially smart.
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PLM system
The reality of the business world means that companies have to invest in the future of their products as much as they invest in their various marketing efforts. After all, what good is a product to potential consumers who don't know why they'd need it? But in order to get your goods into the hands of these customers, you have to first ensure they're being manufactured at highest level of quality they can be. This is where product lifecycle management can play a huge role.
What are product lifecycle management systems?
Think of your company as Santa's workshop, consistently pumping out toys to bring cheer to children all over the world. At some point in the process, there's likely an elf who goes around ensuring quality control and making note of any products that simply aren't up to the high standards of the Santa Claus brand. This is what a PLM consultant can do for you. By recording specific data for a product to reduce its development and launch time, it leaves the workshop and lands under the tree at a much quicker rate.
Why do I need outside PLM tools to help me improve my product?
Remember back to your high school days, if you can. Say you spent weeks crafting the best English essay you could, comparing Arthur Miller's
The Crucible
to McCarthyism and the Red Scare. After starting at it for so long, your eyes essentially stop working, and you're more likely to skim over glaring mistakes. A PLM consultant can be an outside editor for you, helping your company keep your products user-friendly and safe, which can, as a result, heavily reduce liability risks.
What does the timetable look like for PLM systems?
You're probably a business of great ideas, as every good business should be. But where most companies run into problems is turning those ideas into viable, tangible and marketable products. This is where PLM consultants can help cut down the time it takes for ideas to become realities -- by as much as 70%. Additionally, you might have huge ideas but a tiny budget. PLM tools can also help reduce product implementation costs by up to 65%.
What does the future hold for PLM strategies?
Projections from TechNavio market research show the product lifecycle management industry growing at a 9.5% rate every year. That's good news for both PLM consultants and the companies they're in business with. Today, it's simply not enough to have a high-quality product -- it's barely enough to market it online and in print media. Consumers tend to reward innovation in both ideas and the delivery of those ideas, so get in touch with a local PLM consultant if you want to find your reward.
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Tags:
PLM,
product lifecycle management
According to recent statistics from AboutPLM.com, the PLM, or product lifecycle management, consulting services industry has exploded within the last decade. In a one-year period, industry worth jumped from $24 billion to $27 billion. In 2013, the PLM solutions industry is expected to see 7.5% growth, further cementing the sector as a key player in developing businesses for success.
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PLM system
Integware will once again be a sponsor of 3DEXPERIENCE 2013. And, we have a couple of questions for you:
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Tags:
PLM,
3DEXPERIENCE,
Dassault Systemes
Your organization has made the decision that Product Lifecycle Management is the right strategic business tool to help you remain competitive and secure successful organizational longevity in an increasingly globalized marketplace. With the decision to implement PLM, you now come face to face with a myriad of PLM solutions that you can choose from. For a successful implementation of PLM in your organization it is essential to select the “right” PLM for your business needs and organizational culture. The PLM decision will impact the organization for years to come. Once a PLM solution is implemented, organizations will find it difficult to move to a new PLM platform that replaces the incumbent PLM platform.
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Tags:
vendor evaluation,
PLM Vendor evaluation,
PLM evaluation,
PLM platforms
Check out Dave Hadfields new promotional video describing the need, impact and benefits of conducting a proper PLM Strategy:
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Tags:
PLM Strategy,
PLM Strategies
