Best PLM Software And System for Your Business

What is PLM Software?

PLM software makes the process less complicated by integrating all the product-related processes together. A PLM system is a process to manage information that can integrate the data, processes and systems in an enterprise. The software helps to define the processes, manage and execute them, which is very much needed. The system integrates the product information right from design to marketing of a product which can be used by the manufacturing team to start production and ultimately deliver the product on time. 

What is Product Lifecycle?

High-end products with sophisticated technology in hardware, embedded software and electronics are increasing day-by-day and they demand a software which can connect all the the essential disciplines of product lifecycle(PLM Software). The product life cycle consists of the stages such as initiation, design, allotting the work to different teams, execution and delivering the finished product. When it comes to various sectors of product development such as sourcing, component engineering of various parts, manufacturing, supply of products, maintenance, service, etc. the support has to be efficiently integrated for launching/delivering the product on time.

Uses of PLM Software

In an industry, where the products are manufactured, it takes tremendous effort by the higher authorities and the staff to get an idea about a product, design the product, to divide the work and get a team work on the product design, execute the actual work, finish the product and release it for marketing. The product lifecycle management software provides a solution to organize all the phases of product development life cycle. The product lifecycle management software is a collection of software tools which can be used to deal with each stage of product life cycle management or combined together to deal with the complete process.

PLM system is useful to manage the data and design process of a product right from conception, the design and the steps to be taken for manufacturing the product, to handing over the product to the marketing team. The software or collection of software tools is useful to manage data, people, business processes, manufacturing processes, and anything else pertaining to a product. The main function of the Product lifecycle management software is to streamline the product development and create an environment for easier communication among the team working on the product.

Many software programs such as CAD (Computer Aided Design), CAM (Computer Aided Manufacturing) etc. are functionalities of product life cycle management system. The software is very much useful to track information related to safety and control of components especially in aerospace field, automotive industry, in the manufacturing of medical devices, nuclear and military related industries. 

Top Features of PLM System

1. Capability to enhance the product development process

2. It can enhance the productivity, helps in creating the environment needed for implementing the business initiatives

3. The software can efficiently manage the design and documents of a product

4. The product lifecycle management software can efficiently construct the product structure records which are an important part of any product development

5. The software has the ability to create electronic file repository which can be looked upon or referred whenever needed

6. The product lifecycle management software has the ability to manage a built-in custom metadata i.e attributes

7. The software can be used to identify the content of materials which complies with the environment of the product development

8. The product life cycle management system can help the higher authorities to assign the work 

9. The system enables flow of work from one process to another and this helps to finish the product in lesser time

10. The system controls the multi-user secure access which makes the data unique to the employees at each and every stage of the process

Advantages of PLM System

1. The plm software supports the product development process which plays a major role in integrating people, data, processes and business systems

2. The system helps the team to deliver the product much faster to the marketing team

3. The plm system is useful in the repetitive processes of production cycle

4. The system helps to deliver the product with less number of errors

5. The software helps to reduce the rework related to the production process

6. The system improves the design efficiency which helps to deliver a better product in the market

7. The quality of the product is much better with the usage of product lifecycle management software

8. The system helps in decrement of cost in the production cycle

9. The system provides a better insight into the critical processes of the production cycle

10. The system helps in creating improved reports and analysis which is useful for the next cycles of production

11. The system helps to set a Standards and Regulatory Compliance for the product

12. The software helps to improve the design of the product and also increases the communication between the members of the team working on the product

13. Improved resource utilization which in turn reduces the wastage and production cost 

Cons of using PLM Software

1. A major disadvantage of the product life cycle management system is that it may not be applicable for all product categories

2. If there is a setback in innovation stage or any other stage the product outcome can be defective which may not be noticed by the production team. This can bring losses to the organization as the goodwill will be lost among the customers

3. Another disadvantage is that the consumers may feel the discomfort of upgrading the newer versions of the product if the older versions are no longer supported by the industry due to the software changes 

Points To Keep In Mind While Buying PLM System

The most important point to consider is to clearly decide whether the software is suitable for your organization or not. Even if it is a very good software, if it is not suitable to your Organization then the results can be damaging!