5 Keys to Prepare for Defense Industry Product Development
There’s no denying that the COVID-19 pandemic has changed the way we conduct our daily lives. It has also impacted the operations of businesses today and well into the future. Whether it be the adoption of new technologies to accommodate a remote workforce or the implementation of different sales strategies to address new buying patterns, it’s clear that businesses will need to become more agile as they navigate this new normal.
Navigating Challenges in the Defense Industry: Market Shifts and Regulatory Dynamics
Even before the arrival of the pandemic, companies servicing the defense industry had to adapt to an ever-changing market as mergers continued to rise and regulatory standards (e.g., International Traffic in Arms Regulations (ITAR), Export Administration Regulations (EAR), Cybersecurity Maturity Model Certification (CMMC), and Defense Federal Acquisition Regulation Supplement (DFARS)) continued to evolve. Events across the globe also impacted supply chain availability and introduced potential trade disruptions. Despite these challenges, companies are realizing new product innovation opportunities with the rising demand for smarter battlefield technologies and more robust security, encryption, and networking solutions.
In a recent webinar, we took an in-depth look at the opportunities and challenges facing the defense industry. We also shared five product lifecycle management (PLM) essentials to help companies build a strong, compliant foundation that will prepare them for whatever lies ahead.
5 Product Lifecycle Management Essentials for Defense Companies
Leverage your product data
When it comes to your product development practices, are you able to quickly evaluate your technical data and make confident decisions across the organization? Unifying your entire product record and creating greater connectivity between your design tools and processes that drive product development will allow for better traceability and visibility across your product’s entire lifecycle.
Empower your remote workforce
Granting your remote teams the ability to access product information from any location at any time will enable them to better leverage the data and collaborate more efficiently. In turn, your organization will reap the benefits of increased productivity and reduced costs.
Enhance supply chain resiliency
To mitigate potential supply chain risks, implement a secure PLM software system that enables suppliers to access the latest product information and collaborate more effectively with your team. Consider adding additional measures to help you quickly identify alternate supply sources and circumvent any quality or lead-time issues that may arise. This will provide enhanced supply chain resiliency.
Anticipate your customer demands
Demonstrate to your customers that you have the proper systems, standard operating procedures, and contingency plans in place. This streamlines your product development process and helps your customers meet goals while fostering greater trust and a long-lasting partnership.
Establish a compliant environment (ITAR, EAR, CMMC, DFARS, etc.)
Regardless of how the industry regulations change over time, centralization of product design information is key to helping you establish and maintain a compliant environment. From there you can document policies and procedures around how your organization interacts with the product record and, more importantly, who has access to controlled technical data.
To learn more about these five imperatives and gather additional insights from our team of defense PLM experts, watch the full webinar recording.