What is Product Lifecycle Management Software - PLM?
Product lifecycle management (PLM) provides a methodical approach to managing the series of changes a product undergoes, from its design and creation to its ultimate dumping or retirement. PLM is related to manufacturing, but the management configuration can also be utilized for service provision and software development. PLM can be grouped into the following stages:
Beginning of life (BOL) - includes new product design and building processes.
Middle of life (MOL) - includes collaboration with suppliers, warranty management, and product information management (PIM).
End of life (EOL) - includes policies for how the products will be withdrawn or recycled.
A PLM software platform can help organizations to manage their product's lifecycle by providing a data warehouse for all the information that impacts the product. The program can be used to automate the handling of product-related data and to integrate the data with other methods such as manufacturing execution systems (MES) and enterprise resource planning (ERP). The objective of PLM software is to minimize waste and boost efficiency. PLM is regarded as a vital element of the lean production model.
To choose an appropriate SaaS program for your organization, begin by asking the following questions:
· Is this cloud application the best solution—economically and features-wise? · Will it be uncomplicated to do long-term business with the cloud vendor? · Is the system easy to use and does it simplify technology? · Can the software help your company to manage compliance, security, and operational risks?
Find out if other enterprises have successfully implemented the software. Get proof about the provider being able to offer the desired business value and ROI. Browse case studies to learn about the user experiences of other buyers. Get references from the vendor and find out about the quality of the software and service provided.
Another important aspect to consider is the free trial. Before you make such a crucial decision and spend your hard-earned money, be sure if the software actually fits your requirements. You can do this by registering for the free trial and checking out the program’s tools. Also, find out if the provider can help you to pilot the solution. You may need to pay for the implementation of the pilot, but the cost is worth it as it will give you results and proof points to evaluate before you make an important investment.