PLM (Product Lifecycle Management) is a strategic business approach and solution that applies a consistent set of business processes in support of the new product realisation, collaborative innovation, global production, dissemination and use of the product information across the extended enterprise from product concept to end of life.
Typical challenges that companies have reported are related to the business process inefficiencies in the co-operation between different departments and functions (Sales, Engineering, Production and After Sales and Service).
Investment into PLM will be an investment into a company’s future success
Poor product data quality, unreliable product information, administrative burden for maintaining information in multiple systems, long lead times, non-working distributed collaboration with partners and increased costs are typical indicators of inefficiency (i.e. waste). These indicators will have a negative impact on a company’s productivity.
- Process inefficiencies
- Quality problems
- Low productivity
- Increased costs
PLM helps companies to overcome challenges and remove waste in order to achieve business benefits, for example increased productivity and quality, reduced costs, shorter lead times, and increased customer satisfaction.
PLM ensures that product information is always
- Available at the right place at the right time
- At the level of quality that the company business requires
- Checked by the necessary role at the Product Delivery process
- Reusable for new and repeating projects
- Available for distributed teams and to Supply Chain
- Reliable without exceptions and compromises.
Interested in PLM?
Read below how companies across Northern Europe have benefited from PLM!