Product Lifecycle Management

Product lifecycle management

Product lifecycle management (PLM) is a fairly new concept that involves lean thinking to maximize profit and eliminate waste. Product lifecycle management is also being utilized by some six sigma teams to evaluate current systems within an organization because PLM also was creating to produce continuous improvement throughout systems internal and external to supply chains. PLM is available and is effective because of the advances in technology. These advances in technology allows information to be accessed from almost anywhere throughout the world by many users. Product lifecycle management accelerates products to the marketplace by utilizing product information, computers, software, and simulations to produce the first product efficiently.

The article Manufacturers are investing heavily in PLM is a testament of how a system dedicated to implementing product lifecycle management has benefited a company which is a major part manufacturer. The system had taken one week to implement and the system was named Empower. Empower manages over 20,000 parts and documentation. This extensive documentation makes sure Treske stays within regulations of the ISO standards to receive certification. The major advantage given to Treske is that users do not have to wait to locate information or receive information in a timely manner. When Treske integrated Empower with enterprise resource planning (ERP) the changes for considerably notable and advance because manual input was being replaced automation. In addition wireless capabilities were implement to accelerate production.

The bottom line is that organizations want a return on investment (ROI). Organizations will not take a change with new systems if the there is not documentation about the ROI. Again documentation is an advantage for a chief information officer (CIO) when funds are needed to be allocated to projects that could fail. After Treske