PLM as a Strategic Asset

From author Kevin Prendeville – global managing director with Accenture’s Product Lifecycle Services practice…

Today’s competitive business environment requires that top management see PLM as a strategic corporate asset, a cross-functional, enterprise-wide business discipline that augments innovation, helps drive revenue growth, and reduces costs of everything from engineering rework to regulatory compliance.

A company can look at PLM as an overhead cost or they can look at it as a strategic asset.

For years I was told that managing engineering data was like the stepchild to engineering. Most PLM implementations start in engineering [that may be changing].  This was the last thing that engineering would spend money on.  Most people in the company knew that they needed to have an engineering ‘vault’ to store their information.  They begrudgingly financed their PLM implementation to manage data and charged it as overhead.

Look at PLM as a strategic asset

The result of a successful PLM implementation is that Engineers can move from idea to design efficiently. They can trust that they have a single version of the truth.  They can collaborate from that truth.  Changes can be managed efficiently.  They can confidently pass their design information to manufacturing with a minimum of errors.  This environment allows them to move from idea to design in the shortest amount of time.  They can reach the marketplace ahead of their competition or supply their customer with goods in a timely fashion.

We used to talk about throwing information over the wall to manufacturing. Today, that pass can be electronic from the PLM software to the ERP software.  Manage the changes within your PLM environment and it will make sure that the single version of truth is passed to manufacturing.

PLM enables you to get the right information to the right person at the right time. Isn’t that a strategic asset?

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