{"id":8993,"date":"2019-01-03T07:00:50","date_gmt":"2019-01-03T15:00:50","guid":{"rendered":"http:\/\/formtek.com\/blog\/?p=8993"},"modified":"2018-11-13T21:38:49","modified_gmt":"2018-11-14T05:38:49","slug":"product-lifecycle-plm-makes-engineers-2-4x-more-productive","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/product-lifecycle-plm-makes-engineers-2-4x-more-productive\/","title":{"rendered":"Product Lifecycle: PLM Makes Engineers 2.4x More Productive"},"content":{"rendered":"<p>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.<\/p>\n<p>Benefits often cited from PLM often include:<\/p>\n<ul>\n<li>Better quality product<\/li>\n<li>Quicker time to market<\/li>\n<li>Decreased costs<\/li>\n<li>Increased productivity and innovation<\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.ptc.com\/en\/news\/2018\/research-finds-connected-plm-can-help-digital-transformation\">A recent survey by Aberdeen<\/a>, sponsored by PTC, recently quantified the benefits of PLM.\u00a0 The report found that PLM users had a 58 higher percent chance of hitting product date targets.\u00a0 Engineering groups that use PLM were found to be 2.4 times more productive than groups that did not use it.<\/p>\n<p><a href=\"https:\/\/www.aberdeen.com\/author\/gregcline\/\">Greg Cline,<\/a> research analyst at the Aberdeen Group,<a href=\"https:\/\/www.businesswire.com\/news\/home\/20181108005962\/en\/Industry-Research-Finds-Connected-PLM-Organizations-Overcome\"> said that<\/a> &#8220;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.&#8221;<\/p>\n<p><a href=\"https:\/\/www.crunchbase.com\/person\/kevin-wrenn\">Kevin Wrenn<\/a>, General Manager at PTC, said that &#8220;PLM is a key enterprise value-driver, enabling organizations to get products to market faster and in turn, stay ahead of the competition.&#8221;<\/p>\n<div class=\"lightsocial_container\"><div class=\"lightsocial_element\"><a class=\"lightsocial_a\" href=\"http:\/\/digg.com\/submit?url=https%3A%2F%2Fformtek.com%2Fblog%2Fproduct-lifecycle-plm-makes-engineers-2-4x-more-productive%2F&amp;title=\" target=\"_blank\"><img decoding=\"async\" class=\"lightsocial_img\" src=\"https:\/\/formtek.com\/blog\/wp-content\/plugins\/light-social\/digg.png\" alt=\"Digg This\" title=\"Digg This\" \/><\/a><\/div><div class=\"lightsocial_element\"><a 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Benefits often cited from PLM often include: Better quality<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/formtek.com\/blog\/product-lifecycle-plm-makes-engineers-2-4x-more-productive\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[],"class_list":["post-8993","post","type-post","status-publish","format-standard","hentry","category-plm"],"_links":{"self":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts\/8993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/comments?post=8993"}],"version-history":[{"count":2,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts\/8993\/revisions"}],"predecessor-version":[{"id":8995,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts\/8993\/revisions\/8995"}],"wp:attachment":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/media?parent=8993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/categories?post=8993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/tags?post=8993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}