Consumers are demanding more product features, more capabilities at lower cost. This is true in every industry from Auto, Aero to Healthcare to CPG. To manage these increasingly complex products, it requires Product Lifecycle Management solutions that address these complexities. To keep abreast of all the latest technologies, PLM has to ensure that the industries are adept with the tools and services that are required to address such complexity. In this context, PLM becomes a very important investment for all companies that are trying to address product complexity.
In the current economic environment where companies are grappling with uncertainty and rapidly changing customer preferences, the business environment is extremely volatile and product companies are facing with challenges that only innovation and adaptation of technology can address. Companies need to be focused and driven in order to overcome such challenges that the current economic environment may bring.
PLM addresses these complexities by measuring product innovation and enabling technology that enables companies to overcome the challenges that manufacturing companies face.
There are several reasons for that:
- In a highly digitized consumer environment, managing consumer expectation is the key
- Higher expectations among consumers give rise to product features being managed and changed much more than in previous decades
- The consumer is much more conversant with rapidly evolving technology and wants manufacturing industries to respond to the evolution of technology with more innovation and automation
This shows that digitized PLM is essential and this removes friction between the consumer and the manufacturing experience and provides a much more useful tool to manage the product lifecycle than the traditional PLM tools.
The manufacturing companies that have enabled digitized PLM are more adept and flexible, and are better able to address the issues that a highly complex and volatile business environment than other traditional companies which have legacy systems or no systems at all.
Having been able to manage the product complexity that uses innovation and technology overcome, product companies are now moving on to the next level, that is using digitization to address rapidly evolving consumer tastes. Consumer tastes are more volatile and are less prone to prediction, but however if your internal systems are lithe and lean and have a life cycle beyond the period of use of the PLM, you have the opportunity to utilize rapidly evolving consumer tastes. It is this aspect of PLM and its implementation that Prolim specializes in:
- PROLIM Program Managers are uniquely equipped to understand, evaluate to address key challenges, be they commercial, technical or organizational
- PROLIM offers a suite of services centered around PLM that address challenges of customer-driven and highly digitized markets
- PROLIM’s unique capabilities in addressing ROI and investment related challenges help organizations to overcome initial hurdles and ensure seamless progress and delivery across the organization
PROLIM looks at these issues rather than addressing immediate problem areas on a piece-meal basis. We are able to get more out of digitized PLM than we are able to get out non-digitized PLM and other areas.
How does digitized PLM work in your industry? Do you have any positive or negative views to share? Let us know, and we would like to discuss with you.