It’s been a little while since we posted. We’ve been pretty busy but we were asked to write about product lifecycle management and more specifically plm software. The idea behind product lifecycle management is to track a product through it’s entire life cycle from conception to disposal. That information is critical for understanding the need for supply chains and systems development. There are actually four key elements of plm management: Customer Relationship Management (CRM), Supply Chain Management (SCM), Enterprise Resource Planning (ERP) and Systems Development Life Cycle (SDLC).
Why is it important? Well, pretty simple. Increased workflow, more targeted spending, improved efficiency, and enhanced ability to communicate all lead to cost savings and more profit. So, needless to say, finding the right software is critical for any manufacturing company, their suppliers and ultimately the end user. Efficient processes allow sellers to offer lower pricing and that makes everyone happy! Software that manages workflow and product cycle is critical for managing fabrication of sub parts, delivery of raw materials and determining replacement/upgrade of equipment. Finding the right software is a key consideration for any business process.
In the computer world, for example, we know it doesn’t do much good to offer a computer kit without offering a processor. Supply chain is everything and matching the appropriate components at the appropriate time makes the difference between moving inventory to the end user and sitting on useless inventory. As with most things, the appropriate software helps track and manage the process significantly.