Product Lifecycle Management (PLM) Evaluation Center

What is Product Lifecycle Management (PLM)?

Product lifecycle management (PLM) software applications support businesses in bringing products and services from idea through to design, production, and final disposition. PLM solutions have evolved to provide comprehensive functionality for all aspects of product innovation, including product development and portfolio management, manufacturing process management, ideation and requirements management, service data, and regulatory and compliance criteria. PLM solutions allow you to create, communicate, and store a "single version of the truth" for effective collaboration.

Product Lifecycle Management Benefits and Drivers

• Along with tighter control over product quality, PLM also assures more efficient use of existing product data in order to speed time-to-market.
• Integrated engineering processes allow you to save time at the development and prototyping stages.
• PLM reduce material and tool wastage by maximizing the use of resources through all stages of design and delivery
• The knowledge capture and management capabilities of PLM reduce cycle times by providing real-time visibility into all product information.
• Communicate product data and geometry to other applications for testing, simulation, manufacturing, sales, and marketing.
• PLM solutions facilitate quality specification definitions, as well as the recording of sample timing and frequency.
• Ensure adequate product and material specification, handling, disposal, compliance, performance, safety control, and hazard management.

Product Lifecycle Management Risks

Organizations without effective PLM software run the risk of company-wide inefficiencies:

• Isolated information systems can create redundant product and design information, resulting in greater difficulty in tracking changes and errors, as well as costly delays or incomplete projects.
• You may not be able to manage and execute changes in planning, production, and purchasing in a synchronized, cost-effective process.
• If product data vaulting and management are not implemented as part of a PLM system, data cannot be effectively and efficiently captured, stored, protected, and version-controlled to allow users to easily find and use the appropriate product information.
• Without a materials management module as part of a PLM solution, it can be difficult to define and maintain material classes based on product-specific attributes. As a result, inappropriate materials may be used in the manufacturing process.

Why Use the PLM Evaluation Center?

• Determine which product- and design-related aspects of a PLM system best support your industry (including discrete and process industries).
• Evaluate critical PLM functionality for manufacturing engineering, digital process design, documentation, and regulatory requirements.
• Shortlist the PLM solutions that specifically address your operating environment.

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