Aberdeen Group: The Roles of ERP & PLM in the Product Lifecycle - Bringing Product Innovation to Market
Aberdeen research shows that companies are turning away from cost cutting as their primary approach to improving profitability, and are now embracing an investment strategy to drive future growth. As companies turn towards product innovation to achieve revenue growth in uncertain times, they understand that innovation alone will not lead to profits.
Best-in-class companies have put in place organization and technology infrastructures to enable new product development. Improving the new product development process, as Aberdeen research has identified, correlates to tangible business improvements. Enabling technology plays a key role in making the new product development processes effective and efficient.
Download Aberdeen’s Product Development Industries Benchmark report to learn how companies utilizing new product development automation experience:
- 75% reduction in engineering change order (ECO) cycle times
- 17.5% reduction in product costs
- 10% to 15% reduction in time-to-volume cycles
- 15% to 25% reduction in part search times
- 25% to 35% reduction in design cycles
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