In recent years, a number of leading high tech companies have found themselves suddenly following the competition. They have lost their place as market leaders of the pack to younger upstarts. Partially, this can be explained by the ability of the competition to leverage and optimise their product development processes to beat the leaders to the market with the most innovative products.
Product Lifecycle Management enables companies to manage all the data, information, and communications for the entire product lifecycle – covering all stages from concept development through to product retirement. But, actually knowing when the time is right for your organisation to take the steps to implement a PLM solution isn’t always easy. Recognising the signs that PLM is the right move for your organisation can make the difference between remaining competitive and falling behind in your market. Here are 5 of the common indicators that PLM could be the next move you need to take.
Projects are more complex. Products are becoming more advanced. So, it comes as no surprise that business processes, engineering, software development, design, analysis and the other responsibilities that are part of an enterprise’s operation need a better model to support product development.
Nobody is surprised by the fact that innovation is the key to business success. It is the magic sauce that keeps your company leading the pack. But as your company grows and develops, there is a real risk that innovation can often take a backseat. Part of the problem is that the level of data you are handling increases, so it becomes ever more challenging to manage it. Successfully implementing Enterprise Product Data Management can change this.
There was a time, not so long ago, when businesses relied on manual documentation to control their manufacturing operations. These manual systems were cumbersome and prone to errors.
When considering how to get the most value from your PDM system, it can be helpful to review certain indicators of performance, such as:
In today’s global business world, every company is looking for ways to increase productivity, increase market share, and decrease costs. One of the key ways to achieve this is to have an integrated, real-time overview of where the company’s resources are, where they are going, and where there might be problems.
To remain successful in a competitive marketplace, businesses need to drive future growth and increase profits. One way of doing this is through investing a proportion of business revenue into research and development (R&D) activities, which will help in the delivery of new, innovative products and solutions. But what percentage of revenue should be invested in R&D and how do businesses ensure that this investment will contribute towards generating profits?
Have you had the opportunity to explore the latest release of PTC Mathcad? If not, now is your chance. In the upcoming Mathcad Prime 3.0 demo webinars, you’ll be able to get under the hood and see how Mathcad Prime 3.0 really works.
For modern companies, working with multiple CAD tools is a reality. In a recent PTC survey, it was revealed that companies are using an average of 2.7 different CAD systems internally. There are several reasons that companies might be using different CAD tools. For example, different departments might have different tools that they like to use. Or, it might be that a key customer is using a different system to you, so you also need adopt their CAD software.