SAP Product lifecycle management or in short SAP PLM is a process that systematically manages the lifecycle of a product: its conception, its development, its manufacturing, its sales, support, and its retirement. In addition to product management, PLM software can assist in the development of new products, quality control, and data management.
Business processes are streamlined by SAP’s Product Lifecycle Management. This tool is essential in almost all industries where plant maintenance and equipment reliability are key to profitability.
SAP PLM: why is it used?
A critical component of a business’s success is innovation, and PLM provides manufacturers with the advantage. More products are developed at lower costs and with a faster time to market, having a lasting impact on the marketplace. When businesses and industries use a PLM system, they get improved output with the same resources. It also increases revenue. All of this improves profitability.
This is achieved through PLM by:
- Improves efficiency
- More efficient product development
- Reduced costs
- Maximize productivity
- Product quality improvement
In conclusion, PLM enhances transparency and efficiencies in product development.
Which industries use SAP PLM?
- Computer software
What are the key functional areas of SAP PLM?
SAP PLM’s key functional areas are –
- Program and project management.
- Life-Cycle Data Management.
- Life-Cycle Collaboration.
- Enterprise asset management.
- Quality management.
- Environment, Health & Safety.
In conclusion, SAP PLM has become very crucial for industries and businesses. It will only become more important to beat competitors in the market, attract good resources, and produce the best products possible. It is possible to meet these demands with shorter design and engineering cycles by using PLM, but only if organizations invest in the technology that will enable them to do so.