PLM software vendors want to do much more than simply sell you software. Today’s marketplace is more competitive and more unforgiving than ever before, and every company is looking for some sort of advantage. It’s no secret that technology has transformed the retail world in unexpected and exciting ways. The right software can help you leverage some of that incredible power for yourself, and it could save you time and enhance your efficiency along the way.
Product lifecycle management (PLM) software isn’t wholly new, although it continues to be developed and innovated in order to answer the demands of the every-changing retail environment. It’s designed to help you manage complex product information, as well as engineering and manufacturing workflows. The best PLM software also includes communications tools and aids with collaboration.
Ideally, PLM software connects people across departments, along every step of a product’s lifecycle process. It provides a central repository for information, and it can be updated and altered in real-time. Every person involved, from the conceptual designer to your end-customers, should be able to benefit from PLM software. It keeps everyone on the same page by sharing up-to-date product information.
Perhaps the most obvious way that PLM software can sales revenue is by saving time. Time is money, and saving time saves money. This can reduce your operational costs and enhance your bottom line. PLM software eliminates a considerable amount of wasted time and effort by giving you easy access to information and updates.
You can use the search tool to quickly find parts, documents, and any recent changes that have been made. Each bill of materials can be made as data-rich as you need it to be. This allows for consistency and clarity, and offers the added advantage of real-time assembly cost roll-ups. Managing the supply chain through software allows for a clear image of the business processes taking place within a product’s development.
Data is secured on a centralized server. Most modern PLM software is offered as a cloud platform, which enables both security and ease of access. You don’t have to invest in expensive hardware onsite to make your PLM software work. This protects your data from damage or loss.
Users are able to review designs and information concurrently, so no one is causing a distraction. All of your designs are easy to find and access, so you have no trouble updating, adjusting, or reworking them as necessary. As an added bonus, search results, assigned tasks, recently-accessed or updated files, and checked-out files can be found and utilized with just a few quick clicks. By eliminating busy work, you can avoid wasted time and prevent your personnel from becoming unnecessarily frustrated.
Without automation, product releases and changes can be incredibly inefficient. It requires document collection and adjustments, change order creation, copying of any needed documents of files, and interoffice mail or simply walking the floors from one office to the next. This is remarkably time consuming and prone to errors. If you need supply chain partners, it becomes even more problematic. You may have to rely on mail carriers and other time-wasters.
PLM software gives you a centralized repository for all of the documents and information you need, which allows you to streamline the process and drastically increase efficiency. It shouldn’t be surprising that this to increase your sales revenue.
Although PLM software vendors can’t promise a magic bullet, they can deliver the next best thing. Contact us if you have any questions or would like to learn how PLM software can help your company achieve more.