What is Product Lifecycle Management Software - PLM?
Product lifecycle management (PLM) offers a logical approach to managing the sequence of changes a product undergoes, from its design and development to its ultimate discarding or retirement. PLM is linked to manufacturing, but the management configuration can also be utilized for service provision and software creation. PLM can be classified into the following stages:
Beginning of life (BOL) - includes new product design and building 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End of life (EOL) - includes plans for how the products will be withdrawn or recycled.
A PLM software system can assist enterprises 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 management 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 reduce waste and enhance efficiency. PLM is viewed as a crucial element of the lean production model.
Infrastructure plays a big role in a SaaS solution. If there is downtime, you would not be able to access the service. So, you should pay good attention to the software’s infrastructure when analyzing SaaS providers.
Many companies fail to ask their shortlisted SaaS vendors questions about disaster recovery, service level agreements (SLAs), and security. These are crucial infrastructure factors that need careful consideration when analyzing a provider.
SaaS is easy to subscribe to. All you need to do is go the website and buy a suitable package for the required number of users. For this reason, many companies pay attention only to the cost of the package and not to infrastructure considerations. They may also think that in-depth evaluation is not essential since it is so easy to get started quickly.
But you need to be equipped for situations as such as the SaaS provider going out of business or their website going down. You need to have contingency processes in place to face these situations to make sure they do not have a deleterious impact on your firm. It is simple to subscribe to a SaaS product, but think about the impact on your company if the solution is withdrawn by the provider.