Why PLM?
Written by: Matthew and Andrew Klein, Co-Founders of Backbone PLM.
Project Lifecycle Management (PLM) provides accountable value for companies of any size. It’s a system comprised of a single point of truth, information management, easy CAD file storing, which streamlines and standardizes processes. In short, PLM makes it possible for an organization to integrate several facets into one solution which enhances efficiency, communication, and ultimately productivity.
A true PLM system operates from end-to-end, capturing all information and housing it in a central location from the beginning to the end of the project. It bridges the gaps between planning, merchandising, design, and engineering through the production and procurement teams. Some of the factors controllable by a PLM are: budgetary data, revisions, requests for more information, vendor quotations, time and action, purchase order negotiations, payment terms, shipping terms, and real-time logistics data.
When clients are ready to introduce a product, there’s already a repeatable process in place. During iteration of a project, a lot can change. A PLM can ensure that the project stays on target in terms of budget, schedule, and quality. With one system accounting for the majority of the product data, project managers can make quick and informed decisions and be proactive rather than reactive.
However to achieve true seamless collaboration, the PLM software must be configured for the most intuitive workflow. Without an administrative control panel, clients often feel that the system doesn’t perfectly fit their process. By importing historical data and connecting cross-functional departments, clients can flow data into the system and trigger calls to action based on previous data and current needs.
PLM can bring value to companies of all sizes. For SMB companies, the earlier PLM is adopted the more scalability that they’ll have for future growth. All information is standardized which removes the unknown from variables in product data. When the shift is made early, it becomes easy for future collaborators to join in due to the process already being well-established. They can begin collaborating immediately. For large companies and enterprise, PLM is a no-brainer.
Without a PLM, data management is a minefield as information lives in numerous applications, creating a porous data infrastructure. There is no way to manage updates and changes across the platforms, which make changes hard to spot: manufacturing partners don’t have the latest version, missed compliance changes, and updates never make it to vendors. As a result, goods are made incorrectly, development costs grow, and deliveries slide. Every day, design and products companies experience liabilities due to a poor product development process.
PLM saves both time and money by easily recycling product data and reducing error. It’s cost efficient to purchase one solution rather than trying to implement and integrate several software solutions to address specific issues in the product development process. With clearly defined responsibilities, ideal times and dates, clients can ensure that they remain within budget and provide needed transparency throughout the entire project.
Overall, the purpose of PLM is to cross-check the development process at frequent intervals and make it easier to correct deviations.
Want to learn more about how Backbone PLM can help you?
Check out our website here.
