Product lifecycle management (PLM) in the cloud helps internal teams and supply chain partners design, develop, and produce new products with good quality. Cloud PLM has grown in popularity with manufacturers around the world as a way to manage the complete product lifecycle and deliver high-quality products on time and under budget.
The term PLM was invented in the late 1990s as a new type of enterprise software emerged with an exclusive focus on product development. It was born as a response to accelerated design cycles and the increasing need for companies to track product record information (e.g., items, assemblies, drawings, files, engineering change orders, and documentation). Before PLM, the options for product management were either paper-based solutions or expensive product data management (PDM) systems designed to manage computer-aided design (CAD) files. As the rate of change increased and product launch cycles decreased PLM systems emerged as a solution for original equipment manufacturers (OEMs) to gain a competitive edge and improve efficiency and control.
PLM software solutions were originally designed as client/server solutions that needed to be installed at the OEMs site. However, as companies outsourced more, the need to share product design information with internal product teams and external supply chain partners was essential to build and ship high-quality products. The age of dispersed teams required real-time collaboration. Product companies needed to ensure that design partners, contract manufacturers (CMs), and component suppliers were able to share information and create a virtual manufacturing paradigm. Similar to on-premises PLM software application, cloud-based PLM speeds collaboration between all participants from engineering to quality to operations. But because a Cloud PLM system is accessible to anyone with internet access, it is easier to manage complex product records and engineering change management processes.
1. Speeds Innovation
2. Provides real-time collaboration
3. Brings the entire product data together
4. Always up-to-date
6. Zero infrastructure costs
7. Fast implementation
8. Instant scalability
9. Remote working
10.Lower support costs
Almost 80% of manufacturers already use cloud-based services, according to a recent CIMdata survey. And more than 70% of companies are interested in cloud-based PLM. It’s easy to see why. Cloud computing services cost less up front. They’re easier to maintain. They scale on demand. No traditional infrastructure solution competes with that.