Although the definition of PLM will still cause a lot of debate, we believe that there's little doubt about the exact components that make up a successful PLM solution. A PLM solution that lacks even one of these critical capabilities should be questioned as a viable option.
In light of the growing awareness and adoption of PLM, it's interesting to note that while there is a good consensus on the benefits of PLM, there is still some debate on its precise definition.
In manufacturing today, product development processes and profitability are inextricably linked. There is a strong causal relationship, whereby such processes have a direct impact on manufacturers’ ability to generate sustained business growth. Fundamental in today’s global business environment – one that’s characterised by geographically dispersed workgroups, increased competition, and new customer requirements in emerging markets – product development challenges for discrete manufacturers are more complex than ever.
Over the past ten years, more and more manufacturers have deployed Product Lifecycle Management (PLM) solutions to optimise product development and enhance bottom-line performance.