Product lifecycle management (PLM) software used to be thought of as an enterprise play, but not anymore. Today, the midmarket accounts for about 45 percent of PLM software sold annually. PLM, which allows companies to manage and support the information surrounding their various products and parts, includes XML or enterprise application integration; core functions like data vaults, document and content management, workflow and program management, and information authoring tools and functional applications. It is becoming more popular in companies of all sizes due to the expansion of outsourcing and contract manufacturing overseas, an increase in mergers and acquisitions, and the amount of regulatory and compliance laws. PLM offers companies the chance to enable company-wide collaboration to create whatever products are in play. Unlike ERP, which focuses on transactional business operations and manages financial or inventory data, PLM focuses on products and is designed to handle the changing, unstructured data associated with product design. But quantifying ROI can be tricky. Vendors include Omnify Software, Agile Software, Enovia MatrixOne and Arena Solutions.
Learn more about the value of PLM:
- read the article at CIO Decisions
ALSO: read this on why PLM software is close, but not perfect
