Managing Your Product Lifecycle

Written by Technology Magazine on January 18, 2014. Posted in Plm implementation methodology, Plm solutions, What is product lifecycle management

Plm implementation methodology

With product lifecycle management software, you could realize up to 90 percent savings due to appropriate handling of quality or regulatory issues. This also translates into an improved quality and reliability so that your customer satisfaction stays high. As you learn to better manage the product lifecycle, you could improve time to market for new launches by nearly 70 percent using your product lifecycle management services.

Using PLM software, you could benefit from a total lifecycle of quality assurance management and a faster production phase when it is integrated into your current processes. You can find the appropriate PLM solutions with some preliminary research to guide your next launch. In an industry that has an estimated 25 billion dollars, the product lifecycle management solutions are still growing to integrate with all aspects of production, quality control, PLM strategy and overall product development. You may want to start by talking with colleagues or other industry professionals to identify potential product lifecycle management software solutions. In parallel, you may want to analyze online reviews from both customers and industry associations. By identifying the highest rated solutions, you can begin to develop the specific features and criteria that will best drive your products in terms of PLM solutions. In fact, there are typically industry sponsored and third party websites that track various reviews, comments and feedback that can influence your search.

As you delve into the research, you may find it helpful to start with a clearly outlined set of problems. Whether you are having trouble with a product family, a single feature, or elements of your entire production process, there are PLM tools available to drive the most effective decisions. By doing the analysis on the frontend, it may also help you to identify the core features that will help your production become more efficient. You can use this to search reviews for similar issues that other clients have faced. As part of this exercise, you might be pleasantly surprised that the lifecycle solution can be managed without much intervention.

Using product lifecycle management software, your company can streamline the prototyping process as well. As you increase the ability to iterate quickly and analyze the associated data, you may find that you better align the different systems and configurations involved in production. PLM strategy applications are optimized so that you can prioritize business operations throughout the product lifecycle maintain the appropriate focus your efforts. Again, this means that you can save businesses additional costs as more products and employees are brought into the system.

The trend towards more effectively managing product lifecycles and oversight has pushed costs down in order to maximize the high return potential. Overall, your efficiency and availability of resources provides a considerable upside to PLM strategy deployment for your product catalog. To learn more, read this.

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