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PLM: Still Nascent Market
PLM vendor offerings and buyer needs don’t align well. PLM stands for Product Lifecycle Management Technology. That’s the result of a report by the IDC company Manufacturing Insights.
PLM tools are not addressing the top business goals and cost improvements that are on top of company priority lists. The report finds that the same goals that PLM vendors target in their market campaigns like improving quality, time to market and asset reuse match exactly what companies are looking for, but the PLM tools to do the job aren’t packaged or implemented in a way where companies can achieve their goals.
Basic PLM functionality like being able to search and find existing parts in the PLM system are hard to do. Until PLM vendors can develop a high accuracy and easy to use search capability, much of the benefits of PLM and reuse are lost. Co-author Joe Barkai of the report said that “Most PLM tools currently do not support the type of granular search functionality needed to identify existing parts and designs.” PLM done correctly will allow for wide-spread reuse of both knowledge and assets.
Barkai said that “after so many years, PLM is still somewhat undefined with the characteristics of a nascent market.”
