Lifecycle transformation

Purpose – To explain “product lifecycle management”. Design/methodology/approach – This briefing is prepared by an independent writer. Findings – According to CIMdata, the overall PLM market is now worth around $17 billion, with nearly two thirds of this spend being on the primary design authoring tools such MCAD and ECAD. Although investment on collaborative Product Definition management (cPDm), which is focused on collaboration, visualization, management, and sharing of product related information, is increasing more rapidly. Looking toward 2009, the PLM market as a whole is estimated to reach $25 billion, with nearly half this in on cPDm. Much of this growth is likely to be fuelled by strong adoption by mid‐size companies. Practical implications – Observes that where most companies constantly get PLM wrong is that they focus on the data modelling, creating the processes and putting in the PLM technology, but they do not get the organisational thinking aligned with the new approach. As a result people use their retained knowledge to revert back to a functionally oriented approach. Originality/value – Gives a good overview of “product lifecycle management” and how it can and does benefit business.