What is Product Lifecycle Management Software - PLM?
Product lifecycle management (PLM) offers a systematic approach to managing the sequence of changes a product undergoes, from its design and creation to its ultimate disposal or retirement. PLM is related to manufacturing, but the management configuration can also be utilized for service provision and software development. PLM can be categorized into the following stages:
Beginning of life (BOL) - includes new product design and development processes.
Middle of life (MOL) - includes teamwork with suppliers, warranty management, and product information management (PIM).
End of life (EOL) - includes policies for how the products will be discontinued or recycled.
A PLM software platform can assist organizations to manage their product's lifecycle by supplying a data warehouse for all the information that impacts the product. The software can be used to automate the handling of product-related data and to combine the data with other methods such as manufacturing execution systems (MES) and enterprise resource planning (ERP). The goal of PLM software is to reduce waste and boost efficiency. PLM is viewed as a crucial module of the lean production model.
List of Product Lifecycle Management Software - PLM Companies
Things to consider when you invest in a SaaS
Picking a suitable SaaS product from the scores of good quality platforms out there can be a complex task. To assist you, we have created this quick primer. Find out if the SaaS vendor offers the following benefits:
Reduced Cost: Most SaaS solutions are pay as you go, and you don’t need to worry about additional investments for software maintenance or IT resources, upfront licensing fees, or in-house IT staff.
Fast Set-up Time and Minimized Risk: You should be able to implement the SaaS software quickly and easily. Make use of the free trial to learn if the system fits your needs. If you select a wrong program, you can bail out effortlessly with minimum losses.
Customization and Integration: Choose a vendor that offers a wide range of software packages and modules. You should be able to pay only for the functionality you use to meet the current needs of your organization.
Security and Control: The system should offer robust security. Select a provider whose databanks are more secure than those in your office to maximize the advantages.
The Infrastructure: The vendor should offer the required infrastructure so that you need not host anything in-house or require the assistance of internal IT resources.
Web Access: Your employees should be able to access data anywhere, anytime. To assist them be productive on the go, choose a provider that offers mobile apps that are compatible with leading operating systems.
Consider all the six important factors mentioned above to select the right program for your needs.