PLM overcomes these pains, and brings gains across the lifecycle.
Product innovation is a prime concern for many companies. A low level of innovation frustrates many
company leaders. They want to turn on new revenue streams, ramp faster - and count revenues sooner.
They are looking to PLM to increase the innovation rate without compromising creativity or quality. At
the same time that companies aim to be more innovative, they are faced with an increasing number of
regulatory requirements that are voluminous and liable to frequent changes.
Post-PLM: The Gains
Companies usually develop mechanical, electrical, and electronic components in a similar way, with like
processes and systems. But the processes and systems used for software development tend to be very
different. Using separate sets of processes and systems creates problems, and can lead, for example, to
customers receiving control software that doesn't correspond to their product hardware. PLM provides a
way to overcome these issues.
For various reasons, such as a need to shift work offshore to low-cost countries and a desire to work with
the best people, many companies now have researchers and developers located in several places round the
world. Carrying out R&D on multiple sites offers an opportunity to bring new products to market faster.
Web and collaborative technologies that support PLM activities enable R&D to be carried out in a wellmanaged way in multiple locations. Sales people and service workers are able to interact with customers and partners on a global basis. They allow 24x7 product development and support. PLM supports use and reuse of common parts, world-wide engineering change management, and global information exchange, synchronization and interoperability.
PLM enables integration of the design chain (internally and externally with suppliers) to support Global
Product Development, and integration of the supply chain (externally with partners) to support Global
Manufacturing. Product know-how is one of the most valuable resources for corporate development and
must be kept secure. PLM provides the 'Intellectual Property (IP) Vault' for protection in the face of
increasing global competition and economic espionage. PLM addresses security at all times and in all
places, including areas where people may be less vigilant, such as in collaborative workspaces and emails.
