Select a PLM Solution to Make Better Products
Selecting a best-fit solution requires balancing needs, cost, and incumbent applications.
Member Challenge
- There is no margin for error.
- PLM is such a crucial business process that both the business and IT are hesitant to suggest changes to existing processes. Mistakes can lead to catastrophic business outcomes.
- If major mistakes are made during the PLM initiative, IT will face significant rework and the business will lose trust in the department.
- It’s a difficult market to navigate.
- The PLM market is more complex than other application markets. There is minimal transparency with regard to pricing and feature sets. Additionally, it is not always clear which PLM tools will integrate with an incumbent ERP.
- Choosing the right technology stack is critical. IT needs to spend time understanding who the major players are before making a selection decision.
Our Advice
Critical Insight
- Alleviate organizational pressure in a rapid product lifecycle.
- Shorter product lifecycles and higher frequency of releases put pressure on PLM to get product design and cost management right the first time.
- A PLM that can adapt to the shifting needs of an organization ensures that each product achieves its target cost and planned margin and exposes supply risk while there is still time to fix it.
- PLM and ALM are converging.
- Most physical products are now software enabled. IT needs to manage software releases not just for applications but also for physical products.
- Software vendors have yet to embrace this convergence.
- Get a 360-degree view of the product lifecycle.
- Feed downstream data into upstream processes for constant product improvement. Organizations need to figure out not only where PLM fits in their application process (e.g. PLM – MRP – ERP) but also what data feedback loops are necessary. For example, if a design change needs to occur at some point in the production process, interoperability between ERP, CAD, and then PLM results in faster turnaround and better data hygiene.
Impact and Result
- Our methodology will address the issues presented using a vendor feature–set based approach to showing the client the art of the possible for PLM.
- Drawing on experience from nearly three dozen analyst engagements pertaining to PLM, half of which involved the manufacturing sector, our methodology enables the member to find a structured approach to vendor selection for this complex application category.
- Moreover, by utilizing Info-Tech’s vendor landscape and executive primer, the member and their business stakeholders can be confident they are taking the right approach to selecting a PLM solution.
Research & Tools
Start here – read the Executive Brief
Read our concise Executive Brief to find out why your organization should care about PLM’s potential to give you a 360-degree view of your products and how Info-Tech will support you as you identify and build your PLM use case.
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Select a PLM Solution to Make Better Products – Executive Brief
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Select a PLM Solution to Make Better Products – Sample
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Select a PLM Solution to Make Better Products – Phases 1 to 3
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1. Launch the PLM project and collect requirements
Understand the PLM marketplace, where PLM fits within your enterprise application suite, and how to gather requirements for your PLM initiative.
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Select a PLM Solution to Make Better Products – Phase 1: Launch the PLM Project and Collect Requirements
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PLM Specialist Job Description Template
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PLM Requirements Picklist Tool
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2. Shortlist PLM solutions
Assess organizational and project readiness for PLM selection and understand the PLM vendor landscape.
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Select a PLM Solution to Make Better Products – Phase 2: Shortlist PLM Solutions
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3. Select vendor and communicate decisions to stakeholders
Invite vendors for product demonstrations and present selection methodology to relevant stakeholders.
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Select a PLM Solution to Make Better Products – Phase 3: Select Vendor and Communicate Decision to Stakeholders
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PLM Vendor Demo Script
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PLM Selection Stakeholder Presentation Template
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