Maximise the revenue potential of your best products.
How to guarantee continuous revenue from quality products? You must learn, understand, and sustain their potential throughout all stages of its life. The question on every product manager’s mind is – how best maximise the strength of an offered product?
Product Lifecycle Management Software (PLM) manages complex product information, engineering and manufacturing workflows, and collaboration.
Learn how top PLM software can boost your business. By connecting people, processes, and data throughout the product lifecycle. Make informed decisions using up-to-date information.
Transform how your business leverages the power of its products.
Eliminate compliance risks
Faster time-to-market
Ensure process transparency
Boost productivity
Improved product quality
Cost saving
*Aberdeen Group
Boost productivity, foster product value, and maximise product lifecycle management processes.
Collaboration
Facilitate intra-departmental cooperation throughout the product lifecycle.
Product Longevity
Realise long-term revenue yield potentials of all product lines.
Universal Availability
Access up-to-date product lifecycle metrics for informed decision-making.
From start to finish, each product travels through a series of phases. That, when carefully managed, can maximise the value of any given product. Each product begins with its inception, before undergoing engineering design and manufacture, through to it taking part in servicing and disposal.
PLM software brings together the people, business processes, and data involved in the product lifecycle. This information concerns all relevant stakeholders to optimise this model, with the ultimate objective of yielding value to an organisation.
Newfound insight into operations will help deliver unprecedented value from products, and thus, favourable returns to your organisation.
The primary benefit will be procedural, with a reduced time-to-market, with an increase in full price sales. Product quality will improve foremost, through regular and consistent company-wide communication, ensuring continuous improvements to reliability.
Through accurate feedback and close collaboration between departments, you stand to reduce prototyping costs, and enjoy more accurate and timely requests for quotations. This insight enables faster identification of sales opportunities and revenue contributions.
Expenditure curtailment is possible through reuse of original data, as well as engineering workflows. This process also has the effect of establishing a framework for product optimisation, with less waste, supply chain collaboration, and centralised product records. It is possible to keep overheads under control by engaging these tools. Through top PLM software, organisations stand to reclaim opportunity costs, revenue and staff productivity hours.
To find the most optimal solution, it is preferable to have a sound understanding of company needs.
Be sure to consider your PLM users, the duties they face, as well as your product beneficiaries. Aside from the intention of increased production and revenue, consider whether your organisation has any unique demands in optimising the product lifecycle.
By producing a detailed analysis, you will stand to gain complete and comprehensive insight over the process. Areas of improvement may be in the fields of:
Assessing the right solution can be challenging. By many accounts, nominating a PLM taskforce is a preferable strategy. This could be from within the company, or from an external party. When making preliminary assessments of PLM software, refer to case studies in similar companies.
We follow a proven process to deliver your project.
Requirements
Analyse, understand, clarify.
Development
Development or implementation of an IT solution.
Support
Continually help and improve.
By engaging in the best PLM software, you should ensure that you factor initial expenditure to address the solution’s implementation. This value may be relative to the size of your organization, the magnitude of the solution, and the number of enrolled users.
It should be noted that top PLM software is more affordable than ever before. Many such companies begin with economical, tailored solutions which over time can evolve into a wider, and more comprehensive roll-out of the solution.
When setting up and developing this solution, many companies may seek to carry out the responsibilities. Thus, they bear the costs of retaining in-house support. An alternative solution would be to hire support externally, thus limiting the cost burden in the long-term.
At SoftwareHut, we’re a team of 200+ experienced software developers, ready to deliver your project. With over 200 projects delivered for our clients, we know our craft when it comes to bespoke software development.
We’re an extended team, which means we can join your project at any time, working hand-in-hand with your in-house software developers. You don’t have a team? No worries, we take on entire projects, too.
IT professionals
projects delivered
client satisfaction
We use the best tech on the market
What our clients say about us
Take a look at our articles on this subject.
Recruiting has become increasingly challenging and complex. To meet these challenges, HR departments must leverage modern tools and technologies that support effective talent acquisition.
Anna Pogorzelska30 September 2024
The importance of prioritizing value backed by measurable data.
Agnieszka Topczewska-Pińczuk06 August 2024
The basic advantages and disadvantages of Custom Software versus Off-the-Shelf Software.
Marcin Bartoszuk04 June 2024
What is rolling wave planning and how can it benefit you? How to deal with the release value? Find out more.
Agnieszka Topczewska-Pińczuk02 January 2023
Containerization is based on the idea of isolated containers to run apps more efficiently. Learn more about the pros and cons, usage and differences between virtual machines.
Roman Charchuła21 December 2022
Do you have any questions?
We’ve covered some of the most frequently asked questions to make your decision as straightforward as possible.
PLM Software is a digital solution designed to optimise the product lifecycle as it embarks through this process.
This universal tool builds a coherent and uniform information base for any individual with a stake in the status of a product throughout its lifecycle stages.
The primary benefits of product lifecycle management software include:
In what is an intricate market, organisations can find a range of differing vendor solutions, from a variety of product lifecycle management companies. These however should be scrutinised as to whether, or how they may fit into your business strategy.
Some examples include SAP product lifecycle management, Siemens product lifecycle management software, Autodesk, Dassault Systems, and PTC.
The product lifecycle entails 4 distinct stages:
