Product Lifecycle Management Selection

This technical evaluation and supplier selection guide will help organizations select the best product lifecycle management software for their business requirements.

Industrial Manufacturers Require Product Lifecycle Management for Optimized Processes and Better Products

Choosing the right suppliers for product lifecycle management (PLM) solutions is of paramount importance for manufacturers. PLM encompasses the entire lifespan of a product, from conceptualization to retirement, and efficient management is crucial for success in today’s competitive market. Selecting reliable and technologically advanced suppliers ensures that manufacturers have access to the right PLM tools and expertise, enabling them to streamline processes, reduce time-to-market, and enhance product quality. 

Solution providers support the critical central role product lifecycle management plays in their customer’s success. They are continually enhancing their solution portfolios and today’s PLM goes well beyond traditional product authoring and testing applications (CAD/CAM/CAE).  Modern PLM suites include powerful support for every stage of the product lifecycle. Product design has become tightly integrated with manufacturing and service processes and powerful collaborative environments are enabling complex, global networks of partners to freely collaborate in product innovation, development, production, and support activities.

Moreover, a strong supplier partnership fosters collaboration and innovation, allowing manufacturers to stay ahead of market trends and continually improve their product offerings. Successful manufacturers look beyond their investments in PLM as merely buying a set of applications and tools for product development and to improve engineering efficiency. Rather, they embrace the objective of enabling more effective and collaborative global business processes.  Achieving this goal requires an understanding of a company’s business strategies and processes, and the engineering resources and IT infrastructure requirements they impose.  PLM solution selection can then follow as a rational process of matching these requirements to individual solution capabilities.

Product Lifecycle Management Selection Strategic Issues

Explore Options When Selecting Deployment & Licensing Models   

For deployment options, companies are presented with on-premise data centers, on-premise private clouds, hosted data centers, hosted private clouds, and public or hybrid cloud options, each with its own set of benefits and drawbacks. The three primary payment structures are either high-cost perpetual licenses with recurring maintenance fees, subscription licenses that include updates and support services, or curated Software-as-a-Service (SaaS) packages. 

For companies considering moving to the cloud, most PLM suppliers are already set up to provide managed cloud services. This can be hugely beneficial for companies that lack the IT infrastructure or expertise to host the software on premise. Even large companies, which have previously invested in the necessary infrastructure, are realizing the benefits of moving to cloud computing. Cloud computing and related services empower companies to deploy projects faster and companies can scale as needed. 

This deployment option also eliminates the capital expenditure required to install or upgrade a server infrastructure. Lower maintenance cost associated with hardware and necessary IT staff is achieved through economy of scale; so is greater resiliency and redundancy of the data center. However, despite all the benefits of cloud computing, on-premise solutions are still viable and sometimes preferable. 

The primary advantage of on-premise deployment is control. With on-premise solutions, companies can work with PLM providers to customize the software to meet their specific needs. Because PLM solutions are integral to the operations of an engineering organization, the customization and broader functionality offered with on-premise deployment can sometimes outweigh other deployment options.

Evaluate Vendor Expertise and Support

When selecting a PLM supplier, is crucial to evaluate the expertise and support capabilities of potential vendors. Look for vendors with a proven track record in your specific industry, as they are more likely to understand specific industry challenges. Support and services are essential for a smooth deployment, ensuring that the system is configured correctly and integrates seamlessly with existing processes and systems. Confirm the vendor offers robust support and services and is committed to a long- term partnership.

Involve Key Stake Holders and Foster a Cross-collaborative Culture

Now that a clear vision has emerged to digitize the product lifecycle from design through manufacturing, successful manufacturers need to integrate an end-to-end solution involving multiple constituents within an organization. Secure buy-in from senior leadership to ensure alignment with corporate strategy and facilitate funding and support for the implementation. Include representatives from different departments, such as engineering, manufacturing, IT, and quality assurance.

Define Clear Objectives and Requirements

Identify business goals: clearly outline what you aim to achieve with PLM solutions, such as improving product development efficiency, enhancing collaboration, ensuring regulatory compliance, etc. Specify functional requirements: list the specific features and capabilities needed, such as CAD integration, BOM management, project management, and workflow automation.