Knowledge base » Articles » PLM services – complete control over product lifecycle

Launching and maintaining products on the market is by no means easy, especially when operating in competitive areas and industries. PLM services can be a great support in proper planning of all processes.

When is it a good idea to use such tools and what do they include? What makes up a product’s lifecycle, and what can be done to make it last as long as possible?

What are products, anyway? They are solutions put on the market, which can include both goods and somewhat less tangible services. Their purpose is to meet the needs of the public and fit into the expectations of a particular market.

Predominantly, it is consumers and their preferences that determine the lifespan of a product. If a product is not properly thought through, then customers lose interest more quickly and a recall or improvement is necessary.

The product lifecycle consists of several stages, including:

• introduction,
• growth,
• maturity,
• decline.

They can be represented on a graph with time and sales volume as axes. The beginning is the development. The graph climbs upward and then gradually begins to fall, after reaching the highest point.

Each stage consists of many smaller processes that affect the final sales performance of the product – its success or failure. Lifecycle management therefore requires precise planning of operations at each point. For this purpose, PLM services are used, thanks to which it is possible to improve the product in order to extend its maturity period and thus its presence on the market.

PLM tools today are mostly practical software, such as solutions from SILK PLM. It allows you to streamline daily work not only in the company producing the product, but in the entire related supply chain (warehouses, wholesalers, stores, transport companies).

By implementing digital PLM solutions, all involved parties get access to a centralized database. This is a way to create a comprehensive set of reliable information, better communication (within the company and between the chain links). Such solutions bring a number of benefits, which influence the competitiveness of a product on the market.

Why should you choose to implement process management tools in your company? First of all, it’s a way of streamlining the flow of information and storing valuable data in one place, instead of in several dispersed systems. This reduces the risk of error and ensures that the data you need can be accessed by all the people involved, not only those working in a specific company, but also those participating in the entire supply chain.

What else can you gain? Practical PLM services are an opportunity to reduce bottlenecks at every stage of a product’s life. This makes it more competitive and generates greater customer satisfaction. Access to real-time data is a chance to respond to market needs faster and improve refinement of each product.

Therefore, PLM tools improve productivity, drive innovation, reduce the time it takes to bring a solution to the market, and reduce costs and errors, resulting in better financial performance for the company.

PLM software is a way to generate a lot of profit, as long as you choose tools tailored to the needs of your company. Such possibilities are provided by SILK PLM, a product lifecycle management tool developed by experienced specialists and running in the cloud. As a result, you have access to all valuable data from anywhere on earth. This increases the comfort of work and makes it even more convenient and simple to work on fine-tuning product-related processes.