PLM Implementation

Product Life Cycle Management – PLM

Product Lifecycle Management (PLM) is a business strategy that has gain wide acceptance across many industries. Companies that have already adopted PLM are showing significant reductions in new product introduction lead times and are benefiting from meaningful cost savings. The results from early adopting companies confirm the business value of the concept and point to a bright future for PLM in helping companies achieve world class product innovation practices.

There are many direct time and cost savings achieved by organizations early on in a multi-year Product Lifecycle Management (PLM) solution.  Accessing data in minutes instead of hours or days increases personal productivity significantly. The ability to streamline workflow and improve overall operational efficiency has the potential to save significant time and money. Savings are created by enabling seamless collaboration across the enterprise and leveraging information throughout the product lifecycle.   A PLM solution will often deliver the following benefits for an organization like New Era.

·               Achieve speed to market through faster product development cycle times

·               Respond to market changes faster and deliver more product innovations

·               Increase sales, product quality, and customer loyalty

·               Reduce cost through elimination of waste and inefficient procedures.

More importantly, companies often realize longer-term Competitive Advantage benefits after implementing PLM because of the improved business performance metrics listed above. These strategic advantages from PLM enable companies to increase market share, profitability, and ultimately increased stock market capitalization.