HOW CLOUD TECHNOLOGIES HELP MANUFACTURERS DRIVE SUSTAINABLE PRODUCT DEVELOPMENT

BUSINESS AND ENVIRONMENTAL BENEFITS
OF THE CIRCULAR ECONOMY

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A circular economy gives companies a stronger sense of corporate social responsibility (CSR) that they can put into practice and measure. Aiming to promote reuse and decrease waste in manufactured goods, the circular economy is a restorative and regenerative process. By managing finite stocks, a circular economy maximizes resource returns, protects and enriches natural capital, and reduces system risks.

Companies will be able to transition to a circular product development model with the support of PLM’s role in developing a sustainable circular economy. With PLM in place, the end of a product’s life is when the product is used and returned to the manufacturer to be recycled or refurbished. PLM’s role in supporting a circular economy benefits the organization and society.

Benefits to Your Organization:

Increased efficiency: Sharing real-time information with every stakeholder involved in designing and building products allows teams to optimize designs and streamline manufacturing approaches. This leads to faster and more efficient product development.
Improved collaboration: A connected PLM infrastructure in the Cloud allows for better collaboration between different teams and departments, as all product-related information is stored in a central location and can be accessed by authorized personnel. Decision-making and communication across the organization can both benefit from this.
Enhanced visibility: A PLM system gives management a clear and comprehensive perspective of the product development process by serving as a single source of truth for all product-related information. This can assist in locating bottlenecks and potential improvement areas.
Reduced risk: Keeping the complete product record in a controlled and centralized location reduces the risk of data loss or inconsistencies. This can also help ensure that the product is developed in accordance with regulatory requirements and organizational standards.
Increased competitiveness: A comprehensive PLM platform can help companies bring new products to market faster, with fewer errors, giving them a competitive advantage in their industry.