- There is no margin for error.
- PLM is such a crucial business process that both the business and IT are hesitant to suggest changes to existing processes. Mistakes can lead to catastrophic business outcomes.
- If major mistakes are made during the PLM initiative, IT will face significant rework and the business will lose trust in the department.
- It’s a difficult market to navigate.
- The PLM market is more complex than other application markets. There is minimal transparency with regard to pricing and feature sets. Additionally, it is not always clear which PLM tools will integrate with an incumbent ERP.
- Choosing the right technology stack is critical. IT needs to spend time understanding who the major players are before making a selection decision.
- Alleviate organizational pressure in a rapid product lifecycle.
- Shorter product lifecycles and higher frequency of releases put pressure on PLM to get product design and cost management right the first time.
- A PLM that can adapt to the shifting needs of an organization ensures that each product achieves its target cost and planned margin and exposes supply risk while there is still time to fix it.
- PLM and ALM are converging.
- Most physical products are now software enabled. IT needs to manage software releases not just for applications but also for physical products.
- Software vendors have yet to embrace this convergence.
- Get a 360-degree view of the product lifecycle.
- Feed downstream data into upstream processes for constant product improvement. Organizations need to figure out not only where PLM fits in their application process (e.g. PLM – MRP – ERP) but also what data feedback loops are necessary. For example, if a design change needs to occur at some point in the production process, interoperability between ERP, CAD, and then PLM results in faster turnaround and better data hygiene.
Impact and Result
- Our methodology will address the issues presented using a vendor feature–set based approach to showing the client the art of the possible for PLM.
- Drawing on experience from nearly three dozen analyst engagements pertaining to PLM, half of which involved the manufacturing sector, our methodology enables the member to find a structured approach to vendor selection for this complex application category.
- Moreover, by utilizing Info-Tech’s vendor landscape and executive primer, the member and their business stakeholders can be confident they are taking the right approach to selecting a PLM solution.
Workshop: Select a PLM Solution to Make Better Products
Workshops offer an easy way to accelerate your project. If you are unable to do the project yourself, and a Guided Implementation isn't enough, we offer low-cost delivery of our project workshops. We take you through every phase of your project and ensure that you have a roadmap in place to complete your project successfully.
Module 1: Understand PLM and Elicit Requirements
- Understand the fundamentals of PLM tools and their real-world business applications.
Key Benefits Achieved
- A clear understanding of what PLM is capable of and where it fits within the enterprise application ecosystem
Introduce PLM technology.
- An understanding of the history and current state of PLM
Kick off the requirements gathering initiative.
- An outlined elicitation plan
- A list of functional requirements from stakeholders
Module 2: Conduct an Environmental Scan and Internal Review
- Examine where the organization’s current product lifecycle processes stand.
Key Benefits Achieved
- Understanding of what is needed from a PLM initiative to drive efficiency and differentiate your organization from its competitors
Conduct business process mapping.
- An understanding of the processes that a PLM will need to support
Perform a competitive analysis.
- n understanding of comparable organizations’ approach to PLM
Gather document system requirements.
- A list of system/technical/nonfunctional requirements
Module 3: Shortlist Vendors
- Achieve readiness for vendor demonstrations.
Key Benefits Achieved
- Creation of a custom vendor shortlist
Review PLM vendor landscape.
- Understanding of the PLM vendor market
Create vendor weighting criteria.
- A standardized framework for scoring PLM vendors
Create a custom vendor shortlist.
- Vendor shortlist