PLM – The Definition What is Product Lifecycle Management (PLM) 􀂾 Strategic business approach 􀂃 Applies a consistent set of business solutions 􀂾 Collaborative creation, management, dissemination, & use 􀂃 Product definition information 􀂾 Supports the extended enterprise 􀂾 Concept to end of life 􀂾 Integrates people, processes, & informationv Scope of PLM – Fits Industry Needs PLM focuses on extended enterprise intellectual assets 􀂾 Managing definition through its entire lifecycle 􀂃 From initial concept through end of life 􀂾 Encompassing the entire extended enterprise 􀂾 Including the product creation authoring tools 􀂃 MCAD, ECAD, CASE, Tech-Pubs 􀂾 Managing the complete product definition 􀂃 Mechanical, electronic, software, and docum. 􀂃 Manufacturing andmanagement processes 􀂾 Integrating all three product-related lifecyclesvv Copyright © 2002 by CIMdata, Inc. - 12 Industry Evolution – PLM Acceptance Recognition of PLM’s value is increasing significantly 􀂾 Companies continue to invest despite economy 􀂃 To survive …. “fear” drives many investments 􀂃 To win …. forward-looking for future advantage 􀂾 PLM becomes an executive issue 􀂃 Product innovation vision enabling 􀂃 Quick ROI is required to gain/retain commitment 􀂾 Market changes increase PLM credibility 􀂃 SAP, EDS, and IBM make PLM a major focus 􀂃 Major systems integrators and consulting firms establish WW practices focused on PLM