5 PLM benefits that everyone should know.
PLM (Product Lifecycle Management) solution is one of the most important components to a company's overall success.
If your company has trouble managing a product portfolio and doesn't have any way to address product development or product modification or plan their commercialization, then it's time to invest in PLM software.
We are Fourteen TEC, one of SAP's most qualified partner in Product Lifecycle Management (PLM).
We have implemented the first native PLM on SAP, Mars PLM, focusing on business processes, efficiency, collaboration, and productivity.
Data Sharing
A PLM solution allows you to share data across the enterprise, including all stakeholders in product development and distribution.
All members of the design process can work collaboratively on a single project.This reduces errors and increases efficiency by allowing everyone involved in a project to see changes made by others in real-time, enabling them to catch mistakes early on.
Increased Productivity
Several researches show us that only 39% of the employees spend their own time performing their primary job.
PLM is the answer if you are looking for a way to make your work life easier. PLM integrates all aspects of product development into one unified system, which helps businesses cut costs and save time by reducing inefficiencies in design.It also allows companies to improve quality control, as well as accelerating the speed at which products are delivered.
Accelerated Time to Market
The goal of PLM is to speed up the innovation process, which starts with engineers.
Engineers can now spend more time doing what they do best: developing new products and solving problems instead of entering data into spreadsheets or communicating back and forth through email.This helps not only increase productivity but also lowers errors by compiling all information into one central location for easy access.
Centralization
Centralized data was once limited by PLM systems that mainly are set up stand-alone, narrowing the sharing of these data with partners and employees. Now due to commercialization of new tools like Mars PLM
(as SAP native extension), this process is much easier and gives businesses the ability to collaborate in real-time into a single visual oriented workspace.This allows for unparalleled synchronization between engineering, manufacturing, sales, and service. With a centralized platform where collaboration is unhindered, all teams can contribute to product improvements during any phase of the product lifecycle.
For example, the sales team can pass insights to the engineering department on how the market is going, service can let operations know about problems or design flaws, and direct feedback from customers can be relayed to the engineering team, creating a complete closed loop.
Reduce risk
Ensuring product compliance is essential throughout the design and production phases. However, once the product is in the hands of the customer, it is equally important to monitor customer complaints and track quality issues.
PLM software helps companies maintain detailed historical information of changes in product versions to ensure audit trails are intact.PLM software also makes it easier to manage products after they leave the factory.
For example, when a high-tech manufacturer discovers issues with the display in a specific model of a phone, they can easily check whether that display has been used in other devices. They can then issue recalls for only the affected devices, reducing the cost of replacement.
PLM software helps mitigate risks through planning in a product’s initial design phase and promises higher success in later phases of the product lifecycle.
Do you want to discover how the advantages of a PLM solution work on SAP? Request a free demo with a qualified consultant.