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Development 2023

Five Competitive Advantages Through PLM

Five Competitive Advantages Through PLM
Five Competitive Advantages Through PLM

Video: Five Competitive Advantages Through PLM

Video: Five Competitive Advantages Through PLM
Video: Competitive Advantage and Business Strategy 2023, May

Product lifecycle management combines all information of a product's life cycle in one system. Companies hope that the PLM will have better control over the various processes that are required in every part of a life cycle. In times of digitalization and Industry 4.0, companies with PLM are given opportunities for global flexibility and collaboration that were unthinkable just a few years ago. A provider of PLM software is PTC. PTC summarized five benefits of PLM for 2020 below:

PLM visualization enables the display of a product and its associated documentation from the CAD or construction level to the product review level in both 2D and 3D.

In 2020, augmented reality (AR) solutions will be increasingly used to visualize a product from any perspective. Augmented Reality enables users to review their virtual prototype. You can zoom in on exactly the part you need and examine its status. This makes decisions about maintenance measures easier and the product better understood in the context of neighboring assemblies. This makes it easier for cross-functional and cross-departmental teams to work together.

The interaction between man and machine enables PLM systems. For example, employees receive AR-controlled digital work instructions remotely via a Microsoft Hololens 2. This makes it easier for them to maintain the device, and productivity and work quality are increased.

The efficiency of manufacturing plants and factories can also be increased with this technology. In this way, digital simulations help to measure the effects of manufacturing new products, to run through what-if scenarios and to evaluate them.

In addition, digital twins that combine the physical and digital aspects of a product are used in the design, operational planning and training for the use of these products.

Production environments are often used internally and across companies globally. This poses security risks that should not be underestimated - especially when it comes to intellectual property worth millions. Here, PLM providers, manufacturers and suppliers alike are required to create trust across the industry. If necessary, they need to be able to act quickly to secure their products and implementations.

Where is strategic product data stored? Who can access them? For a long time, these problems hindered global cooperation. Today, strict access control through role- and task-based user interfaces as well as a secure PLM system enable collaborative work environments inside and outside of companies to be created and used risk-free.

Traceability and change controls enable the range of product variants to be expanded while at the same time reducing the number of components. Supplier and customer relationships also benefit from this. Thanks to the improved networking, external partners can assess the effects of changes and develop a more comprehensive understanding of interactions. With PLM systems, manufacturers can offer their customers precisely tailored solutions - a competitive advantage.

Products are becoming increasingly complex in the course of digitization. Simple electrical or mechanical devices became much more complex, electronically or software-controlled systems. To ensure quality, all teams should work with the same information. Unlike document-based data, streaming solutions enable work to be carried out almost in real time. Last but not least, automated quality processes can be implemented. That means fewer rejects and rework, fewer defects and fewer failures on site.

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