SAP Product Lifecycle Management (PLM) acts as the single source of true information that is related to all the products in an organization. To stand alone from the rest in this challenging and competitive global business environment, every organization is striving to create innovative ideas and products and SAP PLM software is very popular nowadays for its all round support to anything related to production.
SAP PLM being a part of the SAP Business suite helps the organizations with its singularly designed modular software to work with other software whether it is SAP or non SAP. SAP PLM can be utilized by organizations of all sectors to face the business challenges with their specific innovativeness without involving too much investment costs in up gradation.
SAP PLM helps in creating innovative products to cater the market demand as well as creating a new market for the product. This PLM software instills agility to face other competitors and make full use of any opportunity or advantage that comes across.
Processes of PLM
1. It starts by the conception and specification of the product according to the demand of the market or customers along with the specification of technical parameters.
2. The formation of the product starts with the designing of the prototype and testing before it is launched in the market. During the testing period redesigning and modifications of the product are also made if necessary.
3. The process of manufacturing after the designing is finalized and tested.
4. Service, repair, maintenance and disposal of the product are conducted in the last phase of PLM.
Other Supportive Business Areas by PLM
1. In Product Management PLM supports in all high level planning and decision making along with the target and growth strategies. Managing the product portfolio with due analysis is also carried in this phase.
2. In Product Development and Collaboration PLM helps in sharing of important information regarding product structure, drawings and designing, documentation of the product etc. among the teams.
3. In Product Data Management the SAP PLM integrates all the data across the product masters including specifications, structures and service and also the publication of the data.
4. In Life Cycle Management the PLM helps in maintaining the products standard, costing of the product and in resource and document management.
1. Helps in producing high quality products reducing the wastage.
2. Improves the results of the business due to innovative products.
3. Modifies the manufacturing system by due planning and tracking other areas of operation including safety and maintenance.
4. Due to the user friendly nature of the PLM portal important information is accessible to all workers resulting an increased productivity.