The Definition of PLM (Product Lifecycle Management):
The process of managing the entire lifecycle of a product across an enterprise from initial design through manufacture, sale and support.

The Value of PLM:
Efficiencies, cost reductions and improved product quality that will help you beat the competition.

PLM can be a tricky concept. Some companies see it as a vague, misunderstood element of the design process. Others understand that it adds value, but do not fully understand how or why.

This is one of many areas where Valedge adds value. We explain and deliver the value of PLM to you – what exactly it requires, how it is executed and how it will dramatically enhance your business.

• Benefits

• Fundamentals

• How PLM Works

• Harnessing the Power of PLM

 

PLM Benefits
The benefits are significant and easily understood:

Systems	Scalability (Transaction and Functional) required to grow your company
	Single point of data entry removing what is usually an abundance of manual and repetitive data entry
	Provision of critical security measures such as project-level, field-level and life cycle based security model
	Enhanced collaboration capabilities with partners
Process	Institution of consistent processes across the company (e.g. EC release, BOM Mgmt & BOM Integrity)
	Improved product portfolio decisions
	Reduced prototyping costs
People	Ability to leverage internal teams and ODM partners
	Efficient utilization of Resources through elimination of repetitive work, do-overs , manual entry (error prone), near-misses that cause wasted resource cycles and frustration (not a Scalable model).
Products	Improved Product Quality
	Accelerated New Product Introduction (NPI)
	Reduced time to market
	Reliable compliance management

PLM Fundamentals
PLM is a cornerstone of a company’s IT structure. When deployed correctly, PLM is the glue that manages communications and information with customers (CRM), suppliers (Supply Chain Management) and resources within the enterprise (ERP). The benefits apply to wide range of industries including high-tech, life sciences, industrial manufacturing and consumer packaged goods.

Primarily from a software and engineering perspective, PLM also manages descriptions and properties of a product through its development and marketing life. This is achieved through sophisticated software solutions, such as Oracle’s Agile software, that provide engineers with significant advantages during the design and coding phases of product development. When implemented by seasoned experts like Valedge, PLM marries technology and business strategy.

How PLM Works
The heart of PLM is in the creation, accessibility and management of all product data.

PLM’s origins stem from tools such as CAD, CAM and PDM. In today’s market, however, PLM integrates these tools with engineering workflows, communications across business groups and design processes through all stages of a product’s life.

In its essence, the PLM process follows these stages:

Conception	Definition of product and usage requirements
	Concept design
Design	Detailing design and prototypes
	Validation, analysis and corrections
	Creation of tools that are specific to each product
Realization	Planning of manufacturing
	Assembly
	Testing and quality control
Service	Marketing
	Sales
	Delivery
	Maintenance
	Support

Harnessing the Power of PLM
So, where does this analysis and exploration leave us? We have two conclusions:

1. PLM is an absolutely critical aspect of product development and can provide a business with enormous
   competitive advantages.
2. To fully take advantage of PLM, it is best to partner with experts who can optimize your processes and extract
   the most value from your product’s lifecycle.

This is why Valedge provides the value – we harness the power of PLM for your business.