Product Lifecycle Management Information
Product Life Cycle Management
an informational guide to understanding PLM

Product Life Cycle Management

| Why PLM?



The Need for PLM


As products become more complicated and technologically advanced in the era of the Internet of Things (IoT), product developers are challenged by unprecedented change. Complex, connected products incorporate hardware, software and electronics into systems that communicate with other products, services and people via mobile or hard-wired Internet connections. For product teams, the key is keeping pace and striving toward greater efficiency in the product development process.

IoT impacts are felt across industries - from connected vehicles in automotive; flight info feedback in aerospace; to the Industrial Internet and wearable technologies on the factory floor. Today's products are more sophisticated than ever and are growing in complexity as hardware, embedded software and electronics become integral.

When considering PLM, connecting the disciplines is essential, as are cross-enterprise and extended enterprise processes stretching from sourcing, component engineering, manufacturing and the supply chain to maintenance, service and support. An advanced PLM framework helps drive efficiencies in cost reduction, quality improvement and time management.

"The Problem", as PLM Technology Guide labels it, is that paper-managed systems tend to be serial, fragmented and slow, making innovation and new-product development and introduction (NPDI) challenging. "The result is that many companies suffer from NPDI practices that are slow, resource intensive, costly, inflexible, provide little visibility, and are difficult to manage and control." The fragmented nature of paper-managed PLM systems is shown to the right, which each department involved in product management is separated.

PLM systems, or "The Solution", transform this process by integrating all product information to help define, execute, measure and manage key product-related business processes. With a PLM system, product information from marketing and design comes together, and leaves in a form suitable for production and support.

PLM Software unites the business process, and as a result solves numerous business needs. When deciding whether or not to adapt a PLM solution, it is important to assess business objectives that highlight the demands that you wish to solve with a PLM system.

Sources:
CIMdata | www.cimdata.com
PLM Technology Guide | www.plmtechnologyguide.com
Product Lifecycle Mangement | www.product-lifecycle-management.com
AMR/Gartner | www.gartner.com
Aras | www.aras.com