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Product Lifecycle: PLM Makes Engineers 2.4x More Productive
Product Lifecycle Management (PLM) is the process of managing all aspects of the life cycle of a product, from the initial concept, to the design, engineering, manufacture, service and final disposal.
Benefits often cited from PLM often include:
- Better quality product
- Quicker time to market
- Decreased costs
- Increased productivity and innovation
A recent survey by Aberdeen, sponsored by PTC, recently quantified the benefits of PLM. The report found that PLM users had a 58 higher percent chance of hitting product date targets. Engineering groups that use PLM were found to be 2.4 times more productive than groups that did not use it.
Greg Cline, research analyst at the Aberdeen Group, said that “as companies face the growing complexity of products, many are dealing with an environment that is increasingly disconnected. With a collaborative and connected PLM environment, the best-in-class companies are seeing significant cost reductions, improved quality control, and over 2x greater engineering productivity than their peers.”
Kevin Wrenn, General Manager at PTC, said that “PLM is a key enterprise value-driver, enabling organizations to get products to market faster and in turn, stay ahead of the competition.”
