Data Management

Siemens Teamcenter PLM Software Claim

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Connected  product  development  solutions  by business application

In industry, product lifecycle management (PLM) is the process of managing the entire lifecycle of a product from inception, through engineering design and manufacture, to service and disposal of manufactured products.

PLM integrates people, data, processes and business systems and provides a product information backbone for companies and their extended enterprise.

PLM systems help organizations in coping with the increasing complexity and engineering challenges of developing new products for the global competitive markets.

Product lifecycle management (PLM) should be distinguished from ‘product life-cycle management (marketing)’ (PLCM).

PLM describes the engineering aspect of a product, from managing descriptions and properties of a product through its development and useful life; whereas, PLCM refers to the commercial management of life of a product in the business market with respect to costs and sales measures.

Product lifecycle management can be considered one of the four cornerstones of a manufacturing corporation’s information technology structure.

All companies need to manage communications and information with their customers (CRM-customer relationship management), their suppliers and fulfillment (SCM-supply chain), their resources within the enterprise (ERP-enterprise resource planning) and their product planning and development (PLM).

One form of PLM is called people-centric PLM. While traditional PLM tools have been deployed only on release or during the release phase, people-centric PLM targets the design phase.

Documented benefits of product lifecycle management include :

  • Reducedtime to market
  • Increase full price sales
  • Improved product quality and reliability
  • Reduced prototyping costs
  • More accurate and timely request for quote generation
  • Ability to quickly identify potential sales opportunities and revenue contributions
  • Savings through the re-use of original data
  • A framework for product optimization
  • Reduced waste
  • Savings through the complete integration of engineering workflows
  • Documentation that can assist in proving compliance for RoHSor Title 21 CFR Part 11
  • Ability to provide contract manufacturers with access to a centralized product record
  • Seasonal fluctuation management
  • Improved forecasting to reduce material costs
  • Maximize supply chain collaboration

 

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