The digital transformation is sweeping through every industry. But with the quickening pace of the market, supply chain disruptions, and lower profit margins, it’s imperative to adopt technology that will improve resilience. Product lifecycle management (PLM) platforms can help manufacturers meet the demands of the moment, as well as thrive in the future.
Not all companies are ready for such a major investment. And those that are may need to make significant changes to their operation in order to successfully implement the technology. Here’s what to keep in mind:
When Is It Time For A PLM System?
Are your Excel spreadsheets no longer enough to keep track of product data? Are employees constantly struggling to track down specific files and information? Is development taking too long, even as competitors release more innovative products on an accelerated timeline? All of these could be signs it’s time to invest in a PLM solution.
PLM replaces manual spreadsheets with a comprehensive database that encompasses every single stage of a product’s life from ideation to retirement. These platforms eliminate data silos by allowing users to keep all product information, documents, workflows, and communications on one single platform. Workers no longer need to spend time manually sending information to other team members or agencies requesting it — it’s all available live and in real-time for anyone who has access through the cloud network.
What Does It Take To Manage A PLM?
- 1. Resources For a Software License PLM platforms help some of the biggest companies in the world manage every aspect of their product catalogs. Small, family-run businesses don’t need this kind of capability — nor do they have the resources to manage it. In fact, for companies that have less than $10 million in annual revenue, it may not be worthwhile to pay for a PLM software license. Data silos and communication difficulties in companies with less than 50 employees can usually be resolved with simple technology fixes.
- 2. An Implementation Strategy For companies ready for PLM, developing an implementation strategy is key to seeing tangible benefits. Establish specific goals you hope to achieve with the new system, such as improving development cycle time or increasing the number of products in production. Identify a timeline for moving all of your data into a platform and outline exactly how it will be used in your processes.
- 3. Project Leads And Stakeholders No new technology investment will be worthwhile without effective leaders. Determine who will ultimately be responsible for overseeing implementation, as well as its ongoing use in daily operations. Someone, usually a project manager, will need to ensure employees are consistent in how they use the platform. This includes correctly updating databases, communicating with other team members in the system, and completing tasks that trigger workflow automations. They also need to be able to serve as a resource for employees with questions about the PLM and how to use it.
- 4. A Well-Trained Team Finally, leaders need to solicit buy-ins from the employees expected to use the platform every single day. This includes training on how to use the software, as well as education on why it’s so important to follow protocol. Employees need to see a personal benefit to their organization, productivity, and clarity in order to change their behavior and fully adopt the technology.