PLM solutions have been gaining a lot of traction in the past couple of decades, and its an essential part of the lifecycle of any product. PLM refers to product lifecycle management and involves the management of data and processes used in the design, engineering, manufacturing, sales, and marketing of a product throughout its entire lifecycle. PLM has a long history in the manufacturing industries, but today, the term has a broader use case beyond manufacturing and refers to a software solution.
Why do Companies Need PLM?
Companies manufacturing products and services experience a range of issues outside of the scope of design and manufacturing. PLM helps to mitigate these issues and ensures aligning and integration of critical resources. Through PLM, product information is quickly accessible to teams across the organization.
Originally designed to enable engineers to collaborate on the latest product designs, PLM solutions focused on internal employees and were on-premise. Original PLM solutions were built with engineers in mind and were created to help increase productivity, accelerate time to market, and lower product costs. Today’s next-gen PLM software includes the entire organization and ensures faster customer responsiveness and more efficient customer transparency while helping boost revenue.
Cloud-based PLM software is relatively different from its on-prem predecessor in that it creates a single repository to expedite and improve product development and track data and process all through the cloud. Cloud PLM updates changes in products, advancements, and industry compliance as they occur in real-time, which allows for timely collaboration between all departments regardless of the location.
Do You Need PLM?
PLM simplifies, organizes, and integrates data, allowing an in-depth view of products and how they will be received in the market, maximizing efficiency and profitability in design and manufacturing integration, product commercialization, virtual environments, accessible data, and much more.
Let’s take a look at how PLM can help your company in different ways.
Design and manufacturing integration
Agile PLM optimizes the entire production process in real-time, including the range of software applications used for design and manufacturing. Without PLM, your valuable data may not be communicated across all these systems and people.
Through PLM, your products are made ready for a global rollout, with useful, reliable data and process governance. PLM ensures unified data and collaborative workflows across the organization, keeping things running smoothly and allowing teams to respond when challenges arise effectively.
Central Data Repository
Through PLM, a central data repository is made that integrates the entire global process from concept to customer.
Using PLM software allows all departments of your organization to be on top of all the information, improving productivity while allowing for a closed-loop for all teams involved.
Must-Haves Features of PLM Software
PLM software manages and connects data, processes, and business systems with people who use them. When used correctly, PLM software increases productivity, efficiency, and innovation and gets products to market faster.
The PLM software you select should meet your company’s data-sharing needs to enhance the decision-making process for project and design review, maintenance, and support. Data sharing also streamlines operations and improves communication. Your PLM software should:
· Ensure faster planning and development in the design phase
· Address complex issues in real-time
· Manage challenges in manufacturing and design
· Establish a customer-product connection
· Improve product viability with the information provided by sales and marketing
The capability of a company to manage changes effectively during a product’s lifecycle is called change management, and PLM provides essential skills for it. Track product revision, edit documents, allow users to follow change orders without any hiatus is all provided through capable PLM software.
Project management covers the entire product lifecycle from concept to the customer and is generally used for producing, introducing, and delivering products in time. Through effective project management, timelines are met, resources are made available when needed, and products are provided.
PLM software enhances project management by giving rise to collaboration during the product’s lifecycle. It does this through tracking the process, assuring the schedule is met, and ensuring everyone involved has all the information required.
PLM software is only as good as its ability to integrate a company’s processes and technologies. A capable PLM software should easily integrate a CAD design system with Enterprise Resource Planning (ERP) and ensure effective communication.
Head over to Xavor’s PLM software to check out the services in detail and see what fits for your company.