Which industries would benefit more from adopting PLM?

The benefits from adopting PLM are touchable across all industries, but not all companies in all industries are currently mature enough in how they view PLM in order to adopt it. When we look at the PLM market (especially in the Mid-market), analyzing it within a technology wave. You will find that it is very hard to determine whether it is in ‘Growth’ phase or ‘Maturity’ phase. It is clear that a closer look and segmentation is needed in order to determine maturity of the market. When analyzing that you will find that companies from the manufacturing traditional industries (Automotive, Aerospace & Defense, Industrial equipment, High-tech, Energy & process, Shipbuilding, Consumer goods) are more mature to adopt PLM, next are the rest of the manufacturing industries (consumer packaged goods, Construction, Medical devices). The industries which we name as the emerging industries (Apparel, Pharma, Business services) are still in ‘Growth’ phase, and it means most of them in the Mid-market will be mature to adopt PLM only in several years. So, companies in the manufacturing industries must adopt PLM, their competition already doing that!. Companies within the emerging industries should understand that ‘The sooner the better’, adopt PLM before the competition and gain advantage in the market – more innovative products to the market, shorter time to market, shorter development process, better usage of the company IP (Intellectual Property) and the ability to reuse it while innovating.

PLM at high-tech/industrial mid-market companies

When looking at high-tech/industrial mid-market companies, in order to succeed in this market Those companies have to innovate new products faster (time to market of 3-6 months in high-tech), streamline operations and collaboration. They need to achieve global development excellence and efficiency by leveraging core competencies of the value chain to ensure on-time, on-cost and quality product delivery. Integrate regulatory compliance into product lifecycle processes to reduce business risk and sell products in global markets.

In order to achieve that, adopting PLM will streamline their processes especially across the following areas:

• Requirements & Specifications
• Collaborative Engineering
• Standardization  & IP Reuse
• Mechatronics – Multi-disciplinary product development integrating mechanical, electrical/electronic and software components
• Business Processes & Change Management
• Standard components Engineering
• Linkage between product development and Project Management
• Real-time Collaboration & IP exchange internally and across the value chain and the eco-system

The main benefits those companies will see are:

• Increase product innovation – By adopting NPI methodology within a single engineering platform, from concept to manufacturing
• Encourage global product development excellence – By leveraging streamlined global Innovation Networks and concurrent multi-disciplinary mechatronics product development
• Improve profitability – By leveraging existing products/components and creating modular new products that facilitate re-use in multiple applications
• Shorten time to market and improve return on investment – By lowering development, manufacturing and purchasing costs while delivering improved product performance
• Increase control on costs, quality and delivery dates – By integrating quality and change management processes and enable real-time decision making for all levels
• Ensure 100 percent customer satisfaction – By operate demand-driven and Integrate customer requirements and specifications throughout the engineering process