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Product lifecycle management (PLM) is the process of managing complex product information, engineering and manufacturing workflows, and collaboration.
PLM software connects people, processes, and data across the entire product lifecycle to a central repository of information. So everyone from the conceptual designer to the end-customer is on the same page, sharing the same up-to-date product definition.
The ultimate purpose of PLM software is to accelerate product development and increase profitability.
Make your product development processes more efficient and break down silos, so you can get your products to market faster.
Minimize delays and bottlenecks by providing the tools to design and define processes and workflows, along with their associated tasks, gates and milestones.
Create a central repository for all product data. Give people access to the right data at the right time, so they can make more strategic and informed decisions.
BOM is too important to leave open to errors. PLM software helps you manage, visualize, and share up-to-date BOM information across the organization in real-time.
Provide a clear view of the details that are needed in order to understand and approve engineering change requests (ECR) and engineering change orders (ECO).
Establish efficient and repeatable NPI processes: offer real-time views of the development status, and track milestones of all products in development.
To bring their products to production faster, Porex uses PLM to link quality data, manufacturing data, product development, and design information. (video: 3:04 min.)
Swivl uses PLM software to accurately track their complex BOMs with the limited personnel resources often found at a startup.(video: 55 sec.)
Memjet integrates PLM and ERP (enterprise resource planning) to maintain product quality, while expanding their manufacturing capabilities across the globe. (video: 3:05 min.)
Cloud-based PLM offers many advantages over traditional on-premise product lifecycle management, including:
PLM helps build a solid foundation of efficient and repeatable processes to support your startup’s rapid growth. Managing development processes manually with emails and spreadsheets might work in the short term, but not when it's time to ramp up production.
While PLM is often associated with large enterprises, it can be even more important to the success of small and medium sized businesses. With the cloud, the benefits of PLM are finally available to startups and small businesses.