![]() We start by providing an overview of the subject and subsequently present three case studies of companies that confronted their difficulties and turned their PLM investments into business successes: In this article, we will give you insights on how to address the true potential of a PLM investment and avoid common pitfalls. Little has supported leading companies with the development of their PLM capabilities. The consequences are not inconsequential, often leading to the loss of tens of millions of euros in sunk cost and resulting in the termination of staff and serious effects on critical business processes.įor more than a decade, Arthur D. This is not due to a lack of capabilities in the software but is rather an effect of how the PLM projects are scoped and implemented. Little’s experience is, however, that most PLM initiatives fail. In their effort to improve PLM capabilities, executives often invest large amounts of money in modern PLM software with the promise of significant returns. ![]() ![]() ![]() PLM integrates people, data, processes and business systems and provides a product information backbone for companies and their extended enterprise. In industry, PLM is the process of managing the product and the product data during the entire lifecycle – from the concept, through design and manufacturing, to service and disposal. This can frontload product development and provide rapid learning loops to cross-functional teams.” A key capability is to build and apply virtual testing to get an optimal balance between physical and virtual testing. This improves product design and cuts lead time and cost. “Good PLM capabilities are essential to accelerate the maturity growth in product development projects. ![]() In this article we give you insights into how to take an approach that addresses the true potential of a PLM investment. Not understanding how to optimize these investments can have long-term effects on both the top and bottom line, while companies that realize how to use PLM as a competitive weapon can capture significant market advantages. Product lifecycle management (PLM) initiatives often miss their true potential and make projects unnecessarily costly. By: Anders Johannson / Björn Henriksson / Mikael Johnsson / Sohrab Kazemahvazi ![]()
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