Product Lifecycle Management

PRODUCT LIFECYCLE
MANAGEMENT
EDITED BY :
S WA R N I M S I N G H
1
INTRODUCTION
• What is the Product Life Cycle?
• The product life cycle is the series of stages that every product passes through
from conception to retirement.
• The product life cycle begins with the introduction stage where ideation,
conceptualization, design and testing takes place.
• Some of the major players in this phase include the engineers, operation
managers and executives who establish technical and financial milestones,
determine the product’s features, functionality and access the opportunities
available in the market.
https://www.arenasolutions.com/product-lifecycle-management/ 2
• Before a product can pass to the next life cycle stage, companies evaluate if the
engineering and quality details were executed to specification and if more
development cycles are needed.
• The product introduction stage can be expensive and time consuming, but
planning and an understanding of best practices can keep upfront costs and time
to market as low as possible.
• Getting a product out of the introduction stage can be a complicated process. The
next phases of the product life cycle while different, are just as complex, with
each stage requiring its own unique set of strategic planning and coordination.
PRODUCT LIFE CYCLE STAGES CAN BE BROKEN INTO FOUR
DEFINED HIGH-LEVEL PARTS THAT BUSINESSES MANAGE TO
ENSURE GROWTH:
• Product life cycle stages can be broken into four defined high-level parts that businesses
manage to ensure growth:
• Introduction: This includes market analysis, research and development as well as competitive

analysis
• Scale: The product has shipped to market and is now starting to generate revenue. A decision is
made whether to scale or not
• Maturity: Innovative product companies establish a competitive advantage to maintain and
further grow market share
• Scale Down: Product saturation, commoditization and declining sales force companies to
reexamine their production volume and perhaps harvest their solution by spending minimally and
having no new investment in new releases.
WHAT IS PRODUCT LIFECYCLE MANAGEMENT?
• Product lifecycle management (PLM) is a solution that offers a systematic approach to

managing the sequence of changes a product undergoes, from its design and creation to its
ultimate disposal or retirement.
• PLM is linked to manufacturing, but the management structure can also be utilized for service
provision and software development.
• A PLM software solution can help companies to manage their product's lifecycle by offering a
data warehouse for all the information that impacts the product.
• The software can be utilized to automate the handling of product-related data and to integrate
the data with other processes such as manufacturing execution systems (MES) and enterprise
resource planning (ERP)
PLM software can be used by companies in a host of industries including the following:
• High Tech
• Life Sciences
• Consumer Electronics
• Industrial
• Transportation
• Consumer Products
• Clean Tech
https://product-lifecycle-management.financesonline.com/ 7
EXAMPLES OF PRODUCT LIFECYCLE MANAGEMENT
SOFTWARES
• Autodesk Vault: Data management and collaboration software. Vault data management software assists
designers and engineers to organize design data, handle documentation, and monitor revisions and other
development processes.
• Autodesk Fusion Lifecycle: Autodesk Fusion Lifecycle (formerly PLM 360) is a cloud-based platform that
is a next-generation alternative to conventional product lifecycle management. It is an affordable, easy-to-
use PLM system that makes the benefits of product lifecycle management available to anyone, anytime,
anywhere.
• Arena PLM: Arena PLM enables high tech companies to go fast. Engineering and manufacturing teams can
use the software to drive ideation, innovation, launch, and manufacturing in quick time.
• Oracle Agile PLM: Comprehensive enterprise PLM solution for managing your product value chain.
Oracle’s Agile PLM solution helps you innovate profitably, efficiently centralize product data, and
streamline processes.
TYPES OF PLM SOFTWARE
• we can select and purchase from the following general types of product lifecycle management
software tools:
• PLM software from an ERP vendor: Most ERP systems offer PLM feature with their suites.
Example vendors are: Infor, Oracle, and SAP.
• Best-of-breed application: This is offered by PLM-specific vendors who provide a suite of
modules to manage all stages of the product lifecycle. Example vendors are: Dassault
Systemes, PTC, and Siemens.
• Stand-alone PLM modules: You can also buy CAD, CAE and other modules as stand-alone
solutions. Example vendors include: CAMWorks, MasterCAM, and Autodesk.
9
https://www.google.com/url?q=https://product-lifecycle-
management.financesonline.com/&source=gmail&ust=1542389
10
794360000&usg=AFQjCNFImwEMWRUuTpTVpusTYdGtx81
KEY FEATURES OF PRODUCT LIFECYCLE MANAGEMENT
SOFTWARE
• Computer-aided design (CAD) – CAD apps create two-dimensional and three-dimensional

models of components. You can use CAD software to produce designs quickly and accurately.
Plus, you can update and reuse designs as needed.
• Computer-aided engineering (CAE) – CAE is used to simulate products, identify
weaknesses, and develop preliminary designs to make safer and more sound assets. Common
CAE features are fluid dynamics analysis, mechanical event simulation, finite element analysis,
and performance simulators.
• Computer-aided manufacturing (CAM) – CAM is used by manufacturers to create products
precisely according to design specification. CAM apps communicate with machinery to make
items exactly as designed and create documentation needed to trace manufacturing trends at
future dates.
11
management.financesonline.com
• Manufacturing process management (MPM) – MPM software automates and manages all
the processes that are needed to make products.
• Product data management (PDM) – PDM creates a central storehouse for all information
related to product design and processes. PDM modules can be accessed from any device and
provide data security features to secure production information.
• Reporting and analytics – You can use analytics to find where lead times are going out of
control which can make your project overshoot cost estimates. Many solutions offer pre-built
reports, as well as ad hoc reporting that you can customize for your needs.
BENEFITS OF PRODUCT LIFECYCLE MANAGEMENT SOFTWARE
• Quicker production – You can use CAD software to create designs more quickly and easily at
lower costs. Plus, you can use CAM functionality to handle machining processes and create
products quickly.
• Accurate production – You can use PLM software to ensure products do not deviate from
design specs during machining. Plus, you can also simulate and test designs before production
to ensure the finished products are of good quality and dependable.
• Efficient production – You can communicate with your team members and share designs,
production forecasts and other information. PLM software helps you to create definitive,
automatic processes for product design, creation, and disposal.
13
LATEST TRENDS
• Need for greater integration

• Smartphones are revolutionizing the PLM industry and are making the products more complex.
• Designers and engineers need to handle complex issues related to combining electronic,
mechanical, and software elements.
• Manufacturing companies will not be able to keep software, electronics, and mechanical teams
in silos as there is great demand for integration of software, electronics, and mechanical
elements of product data.
• Internet of Things data overwhelms engineers
• PLM software vendors are trying to figure out the benefits the Internet of Things can offer to their
products and businesses.
• PLM solutions are becoming more complex as its designers are adding software and electronic
components. Plus, online social interactions are bringing more data to the table.
• To sum up, the Internet of Things is set to create a wave of data that may overwhelm PLM software
makers.
• The future of manufacturing technology disruption
• What does the future hold for manufacturing technology disruption? We can expect smarter software as
well as full connectivity involving a range of data-capturing features and sensors that will be integrated
into products.
• Plus, PLM software vendors can be expected to use agile, lean methodologies to make their products
better. Existing development environments are likely to be disrupted by multidisciplinary
interconnected data sets because of the complexity of products.
POTENTIAL ISSUES
• The following challenges can affect the effective use of PLM software:
• Lack of integration between a bill of materials (BOM) and CAD
• If you do not use a good quality CAD system, it may not automatically generate a BOM list.
The solution is to use PLM software which automatically creates a BOM list and updates it if
designs get revised. This ensures there is no gap between design and manufacturing.
• Revision Errors
• Multiple revisions may be created during the design and review processes. This increases the
chances of sending an older version of the design for manufacturing. This error can be
expensive in terms of resources, time, and cost. With PLM software, you can synchronize data
between teams, business units, and locations.
16
• Misplaced or lost documents
• A number of documents are generated during the design and manufacturing process. These
include CAD drawing and parts lists, text documents, pictures, spreadsheets and more.
• It is easy for these documents to become disorganized and littered.
• Use a quality PLM software to securely store all important product documents in one place and
make them easily accessible to all team members and business units
CASE STUDY : ADIDAS
• Adidas group uses PLM to achieve company-wide strategic collaboration
• “EASY COLLABORATION, A SINGLE REPOSITORY FOR PRODUCT INFORMATION AND
SUPPORTING MULTIPLE BUSINESS MODELS BY BRAND IS VITAL — BUT
INCREDIBLY DIFFICULT FOR A COMPANY OF OUR SIZE AND ENORMOUS PRODUCT
VOLUME.” — PETER BURROWS, CIO EMERITUS, ADIDAS GROUP
• FEATURE ARTICLE
• At adidas Group new products are simultaneously developed and introduced on a continuous basis
to meet the needs of the most discriminating professional athletes, teams and consumers. Yet the
company faced a specific need to implement a Product Lifecycle Management (PLM) technology
architecture that would allow for strategic collaboration across the multi-brand, multi-product
type, customer-focused organization.

• Challenges included:
• Islands of information on unique systems meant data could not be easily shared across groups
and led to high cost of ownership
• Some legacy technologies made it difficult for factories to collaborate and share
product information
• No single repository for materials management resulted in data integrity concerns and
duplication of data entry
• Unable to easily move people across divisions; complete systems retraining required, which
decreased productivity and efficiency
• By implementing PLM as its foundation platform, adidas now has:
• A single database for all product information and a single repository for materials
management increased design and development efficiencies
• The ability to easily collaborate with external partners across geographies made it possible to
cut down cycle times
• The ability to more accurately design to cost — focusing on a “global one time”
methodology the company is able to design faster with fewer changes
• Support for multiple business models and product calendars with flexible workflows —
allows adidas to use the same implementation approach across brands and focus on out-of-the-
box features.
THANK YOU
21

Product Lifecycle Management

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Product Lifecycle Management

Uploaded by

Copyright:

Available Formats

PRODUCT LIFECYCLE

• Introduction: This includes market analysis, research and development as well as competitive

• Product lifecycle management (PLM) is a solution that offers a systematic approach to

• Computer-aided design (CAD) – CAD apps create two-dimensional and three-dimensional

• Need for greater integration

You might also like