In conjunction with product lifecycle management, many organizations rely on upstream and downstream software solutions to help manage the design and production phases of the product lifecycle. By connecting PLM software with these other systems, companies can further streamline their product development process and accelerate time to market (TTM).
Product lifecycle management software should allow for easy integration with these types of systems:
- Enterprise Resource Planning (ERP) Systems: Integration with ERP systems ensures that manufacturing receives the latest released design, eliminating production errors and resulting scrap or rework.
- Engineering Design Solutions: Integration with design solutions such as mechanical CAD (MCAD) and electronic design automation (EDA) software accelerates development by ensuring that all components work together, and as designed.
- Electronic Component Databases: Integration with component databases, such as SiliconExpert and Octopart, provides greater visibility into critical component details such as market availability, cost, and regulatory compliance information.
- Customer Relationship Management (CRM) Systems: Integration with CRM systems provides product teams centralized access to critical customer feedback and data. This can help further inform product development and quality processes and improve customer satisfaction.
How Enterprise Cloud PLM Solutions Accelerate Return on Investment
Cloud-based enterprise PLM solutions drive efficiencies throughout the entire product lifecycle, enabling companies to accelerate the introduction of new, innovative products and gain a competitive advantage.
Unlike traditional on-premises PLM solutions which require costly IT resources and expenditures for hardware, software, virtual private networks (VPNs), and other related items—cloud-based platforms are managed by the PLM vendor. This eliminates infrastructure-related expenses and ongoing maintenance, thereby reducing your total cost of ownership (TCO).
Today, many Cloud PLM solutions are sold under software-as-a-service (SaaS) models which reduce long-term capital expenses with a pay-as-you-go subscription. This provides businesses a quicker payback period on their investment.