What is Product Lifecycle Management Software - PLM?
Product lifecycle management (PLM) offers 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 structure can also be used for service provision and software development. PLM can be categorized into the following stages:
Beginning of life (BOL) - includes new product design and creation processes.
Middle of life (MOL) - includes teamwork with suppliers, warranty management, and product information management (PIM).
End of life (EOL) - includes plans for how the products will be discarded or recycled.
A PLM software system can help enterprises to manage their product's lifecycle by offering a data warehouse for all the information that affects the product. The software can be utilized to automate the management of product-related data and to integrate the data with other methods such as manufacturing execution systems (MES) and enterprise resource planning (ERP). The aim of PLM software is to lessen waste and improve efficiency. PLM is regarded as a critical element of the lean production model.
There are lots of cloud-based SaaS solutions available in the market and this makes it hard for a firm to select a suitable platform for their requirements. The first aspect to consider is usability. Be clear about the changes required for your team’s procedures and workflow when you implement the software. Purchase a solution that adapts to your workflows and not the other way around.
The second factor to consider is the user interface. It should be simple and easy to use so that your staff members get the hang of it quickly. Get them involved in the selection and usage process, and evaluate their daily requirements to find a good fit. Make the users view the demos and try out the free trials and get their reviews.
The third important feature is scalability. Select a system that can grow with your company. Though many SaaS vendors offer enterprise packages, these are costly for a lot of businesses. So, check if the platform allows you to export your data and move on to another system if required. In fact, select a provider that allows you to export your data as you can trust their honesty and they are the correct type of SaaS brands you should look to partner with.