Launching new products is a process consisting of many stages. Their proper planning affects the profitability of the investment and can also be a way to achieve success in a competitive market. To achieve this, you should consider using a modern PLM system, which supports people in a better organization of daily work on a product.
What should you know about PLM systems? Why should you use them and what should they be distinguished by to optimize the product lifecycle?
PLM system – how does it work?
A company’s product lifecycle management is referred to as PLM. It refers to a coherent product strategy, planned for all stages of its life, such as:
- market launch,
Efficient management deals with all issues regarding production and distribution, that is, the manufacturing plant, sub-suppliers, logistics, transport, and storage. On the other hand, it also uses information from the consumer market and the opinions of the target customer. All this is done in order to create goods that perfectly fit the current demand, which increases the competitiveness of a brand on the market.
All product data goes into a single integrated database within the PLM system, which allows not only to store and group them, but also to manage and analyze them in order to draw conclusions about possible development paths for the future.
PLM system – benefits for the company
What can you gain by implementing dedicated product lifecycle management software into your company? It’s an effective way for multifaceted optimization of numerous processes, related to production. The main thing you gain from it is a reduction of costs and the time it takes to launch a product onto the market. Also, it is easier to control any changes and implement modifications in the design to respond to the real needs of customers. This, of course, improves the quality of the product.
However, gathering all the data from each stage of a particular product’s life in one place is also an opportunity to develop and improve more than just that one product. Information from the market and data from the company also shows exactly what can be improved for the future in order to make the next goods launched even more competitive. The PLM system is therefore a way to make the right business decisions based on real data.
SILK PLM – a step towards modernity
There are many solutions to manage the product lifecycle in a company. One of the more interesting ones is SILK PLM, with which you can improve many aspects, including:
- delivery and order planning,
- production control,
- supply logistics throughout the chain,
All collected data is stored in the cloud, which means you can access it remotely from anywhere in the world. This streamlines teamwork and speeds up key business decisions based on specific information updated in real time in the database. The result is faster response times, more efficient circulation of information between team members and supply chain links, and more efficient analysis of data for future use.
PLM system – companies on the verge of an industrial revolution
Nowadays, data is the cornerstone of a company’s competitiveness. Their collection and analysis allow you to gain an advantage over your industry rivals, especially when you use specialized tools tailored to the needs of a particular company.
It is worth implementing modern technologies, betting on digitization, automation, support of artificial intelligence and machine learning. All this to deliver the best possible products to satisfied customers, as well as to optimize the functioning of every department in your company. It is an effective way to succeed and bring business into the 21st century and the fourth industrial revolution, where data is the basis for action.