Achieving excellence in product lifecycle management has become
a key component to maximizing bottom line profitability. Industry leaders
are recognizing the benefits of actively managing their products
throughout their lifecycles, from initial concept, to launch, marketplace
management, through end-of-life. However, many companies are simply
failing to meet their business objectives, as PLM issues are complex and
no definitive benchmark studies exist to provide a performance comparison.
For example, profitability is highly dependent upon costs
throughout the product lifecycle. Among the top causes of product profit
erosion are higher than expected product costs, poor yield, and poor match
with customer requirements. The
causes of higher than expected product costs can be identified through
performance measurement and addressed upstream to drive downstream profitability.
To help you understand PLM and
capture its opportunities, we invite you to participate in the PLM
Benchmarking Study, sponsored by PRTM.
What will the PLM Benchmarking Study address?
This new benchmarking program will help you manage your business
through fact-based qualitative and quantitative performance levels, which
can't be found elsewhere. It will help you quantify potential improvement
opportunities and capitalize on the areas in which you are most
successful. The metrics and frameworks used in the benchmarking study can
become an integral part of managing your performance on a continual basis.
Your benchmarking reports will compare you against the best and average
industry performers across these core operational areas:
- Requirements Management
- Supplier & Component Management
- Product Data & Configuration Management
- Design Excellence
- Change Management
- Collaboration
The PLM Benchmarking Study will
help you address several key issues you face when managing your
product lifecycle, such as:
- How effectively are customer
requirements translated into
market-leading product
requirements?
- What level of component and
assembly re-use should I
achieve with new product
designs?
- How can engineering
efficiency and productivity be
improved through better
Product Data Management (PDM)?
- What design approaches
should I be using to minimize
the downstream warranty and
service costs?
- How are component and
supplier data integrated with
product design processes?
- How are leading companies
managing changes?
- What has worked well and
what continues to be a
challenge when implementing
application-based PLM
solutions?
