A lot goes into the creation of a product. From its design and development to its ultimate creation, product lifecycle management (PLM) can help navigate the process.
Andres Lindenthal, managing partner of PLMadvisors, a consulting firm that specializes in new product development and PLM, discusses the benefits of PLM for manufacturers in this presentation.
PLM systems help automate processes and provide a central repository for product-related data for the extended enterprise. They also help manufacturers combat increased competition and price pressure. In addition, they help meet the increasing demand for mass customization.
View this presentation to learn more about the challenges associated with PLM, as well as the solutions to these potential obstacles. Most companies are using only a fraction of the functionality of their PLM system, and as a result they only get limited benefits, Lindenthal says.