Product lifecycle management (PLM) offers a logical approach to managing the series of changes a product undergoes, from its design and development to its ultimate discarding or retirement. PLM is related to manufacturing, but the management structure can also be used for service provision and software development. PLM can be grouped into the following stages:
Beginning of life (BOL) - includes new product design and development processes.
Middle of life (MOL) - includes collaboration with suppliers, warranty management, and product information management (PIM).
End of life (EOL) - includes strategies for how the products will be withdrawn or recycled.
A PLM software platform can help companies to manage their product's lifecycle by providing a data warehouse for all the information that affects the product. The application can be used to automate the handling of product-related data and to combine the data with other practices such as manufacturing execution systems (MES) and enterprise resource planning (ERP). The aim of PLM software is to minimize waste and improve efficiency. PLM is viewed as a crucial component of the lean production model.
SaaS software offers many advantages such as easy setup, access, and integration as well as data security. To choose the perfect platform for your requirements, you need to do your groundwork thoroughly. To start, begin with the following tips to consider and analyze the various products:
Know your needs: First, be clear about your organization’s needs and requirements. Why do you need to spend on a SaaS solution? What tasks and objectives do you intend to achieve with the software? If you are sure about your requirements, you can easily find an apt platform that fulfills them.
Compare features and price: Make a shortlist of SaaS products that offer the features you need and are within your budget. Read online reviews of the shortlisted solutions to learn what each one offers.
Use the free trial and extend it if necessary: Subscribe to the free trials of the shortlisted apps and check out their tools firsthand. This will help you to understand if the software offers what you need to enhance your company’s competence and productivity. Ask for an extension of the free trial if the time is too short to gauge the app’s effectiveness.
Talk to the vendor: Finally, talk to each vendor about the assistance and support they can offer. Try to negotiate the fee and get discounts. Ask about the training and consultation they offer to assist you to utilize the app successfully.