How PLM acts as a Business Strategic Tool ?

As we discussed in last post about PLM core areas and PLM tool covers all the important departments in which a Product is going to be produced in an Organization. Hence it is proved that PLM tool is a platform to integrate people and different software tools in different departments with varied technology base.

So from beginning there is a statement repeatedly stating in most of the posts that PLM tool is Business Strategic tool which helps the organization to reach its vision and Rapid ROI. How PLM tool will help to achieve it?

Answer is very simple that,

·         PLM establishes a “single source of truth” in an organization across its Product information and there will be a collaborative working environment between other departments (Project Team, Concept Group, Design Group, CAD group, Analysis Group, Testing Group, Suppliers,  Prototype Group, Manufacturing Division, Inventory, Assembly, Sales and marketing department etc) hence effective communication and sharing of knowledge with transparent data flow which helps management to take quicker decisions on faster Design to Market strategy.

·         Engineers are assigned with well-planned and defined work break down structure so that exact work engagements without confusion.

·         Tracking of activities and quick identification of hurdles in between work to come out quick delivery.

·         As data is more transparent and exposure to concerned Engineers which will develops innovation in thinking in product development.

·         Secured project based authorization and hence safe IP.

·         Quicker communication to suppliers and later tracked change management

·         Saving more time by effective attribute and query based search options.

·         Complicated BOM generation processes and management integration with manufacturing and suppliers group.

·         No repetitive and duplication of data and work hence more into time and cost savings and quicker qualitative output w it  less errors as there is planned WBS and centralized data flow

By concluding all the above points there will be much more savings in time and money hence it will directly impact the Organization’s Business growth by Rapid Return on Investment.

Above few points are with respect to Product Development processes in an organization and managing with a PLM tool tells how a PLM tool acts as a Business Strategic Tool with rapid ROI.

In next post we will discuss, How to Implement PLM tool in an Organization? and What is the process of Implementaiton of PLM?

Bye for now

Anil Kumar J R