This essay is about the benefits of product lifecycle management.
To point out some of the benefits of the PLM system includes:
- Single point to access to all the product information
- Crystal Clear reporting of all the activities
- Easy collaboration of information across the extended community
- Mapping out all the decision-making processes
- Ability to search across the ideas database and re-use where appropriate in
- One time investment in technology serving for long-term organizational goals
To conclude it can be said that before taking the decision of starting PLM it is very essential to take the management of the company on board. This thing should also be kept in mind that the top management and the other important stakeholders buy into the idea. In today’s competitive business environment PLM can play an integral role in transferring all the information which is necessary to affects a product. Secondly it has improved the communication process between the product and the stakeholders: The PLM system is one of its kind when it comes to product information from marketing and design comes together, and where it leaves in a form suitable for production and support.
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