Engineering-intensive companies need the capabilities of product lifecycle management software (PLM) to improve the productivity of engineering resources and reduce the time to develop new products.
Companies require and use product lifecycle management software in a variety of ways. Research and development (R&D) teams now need to be more innovative and efficient than ever while collaborating with an increasing number of resources. High tech, food and beverage, industrial equipment and automotive manufacturers, to name a few, leverage PLM software in different ways.
Whether you are collaborating with the market to create a new cookie flavor, communicating across international time zones to create a prototype, streamlining maintenance on a piece of equipment to analyze the end-of-life data in an engine, PLM products are impactful tools when selected, implemented and used properly.
In process manufacturing industries like food, beverage, and chemicals we often see Laboratory Information Management Systems (LIMS) replace Product Lifecycle Management Software (PLM) as the chemist or lab technician information system.
Most PLM processes start with a request for research and design (R&D), and then progress through system tracks collaboration, design phases, engineering change control, prototyping, release, production, and use & maintenance through end-of-life.
Enterprise project management and project accounting are critical aspects of Product Lifecycle Management software. Teams need to set realistic timeframes and milestones throughout the project, and information from the project needs to flow directly into the financial side to understand costs and set margins.
Internal and external collaboration, such as getting employees, departments and locations all on the same page, enhances efficiency and takes productivity to the next level by bringing suppliers and customers into the collaboration efforts.
The right product lifecycle management software will provide interfaces to Computer-Aided-Design (CAD) drawings/data and documentation control or vaulting.
When teams are able to communicate and produce with a common toolset, it eliminates many manual efforts such as data collection and input. Having information in one location with easy access from all sides is a major step in reducing a new product’s time-to-market.
Consuming less raw material and/or finished goods for prototyping and testing reduces costs related to a product launch.
Key Performance Indicators (KPIs) and historical data allow for realistic product launch estimates. A fully-integrated PLM tool to manage the lifecycle from start to finish gives the company the ability to set market expectations for a new product.
Tracking quality attributes from the design phase through production paints a full picture for control purposes. Integrated and improved data can provide real-time decision-making capabilities. Compliance is significantly improved and easy to document when you have access to end-to-end data.
Some companies make decisions based on product performance and longevity. Both preventative and standard maintenance programs can be optimized when you have the data on how a product performs.
IT departments are always burdened with integration and reporting requests. Having an end-to-end platform with information that can be gathered by an end user allows IT resources to work on more impactful items.
Just like ERP software, product lifecycle management software can be categorized into Tier 1, 2 & 3. Some systems have very deep functionality but may take longer to implement, so it is important to flush out a company’s true needs when starting to prioritize.
Workflow and user interface might be more important to a company who has a lower level of complexity. Vendor viability and the solution roadmap are also important aspects with considering a PLM solution.