In traditional manufacturing, companies must address a variety of complex challenges to improve product development: frequent design changes, disparate systems with incompatible data, regulatory compliance, and more. Equally important, interest in global product development is growing dramatically, driving new demands for distributed processes, collaboration, and global data management.
To better compete, and win, successful manufacturing companies are seeking a solution that solves these product development challenges. Concurrent Engineering Ltd in conjunction with PTC provides this solution.
Product Lifecycle Management (PLM) is a solution that provides the necessary requirements and capabilities companies need to successfully manage information and facilitate communication and collaboration across the entire product lifecycle from idea through retirement. PLM has emerged as the primary means by which to improve product development processes across the value chain to deliver the most business value.
PLM helps bring better products to market faster, and enables better support of customer' use of products. It's important to bring a product to market quickly - otherwise the customer will choose a competitor's product.
PLM helps reduce the cost of developing and supporting a product. It's important to reduce product costs - otherwise the customer will choose a competitive product that costs less than yours.
PLM gives transparency about what is happening over the product lifecycle. It offers visibility about what is really happening with products. PLM provides the company opportunity to manage better. Based on real information, the company can come to better decisions.
PLM offers many ways to solve problems and seize market opportunities. Each company will apply it in a different way but all will find substantial benefits.