The PLM software market continues to evolve, offering powerful new capabilities, cross-functional value and competitive differentiation. To take advantage of these benefits, companies must also evolve. Here's how to get started.
Many of us have experienced the trials and tribulations of product and portfolio management (PPM) process and technology implementations in new product development. Finally completing an implementation after the business case justification, executive alignment, software acquisition, design, testing, training and data loading can be somewhat anti-climactic.
Last week Business Week's Chief Economist, Michael Mandel, published an article titled "Innovation, Interrupted - The Failed Promise of Innovation in the U.S." where he stated and supported his belief that U.S. innovation has failed to realize its promise over the last decade. He correctly asserts that "a high-wage country such as the U.S. either has to develop innovative products and services to compete with low-cost countries such as China or accept a lower standard of living." In May, Mandel published another article pointing out that U.S. companies are slashing their professional research and development workforces to deliver short-term results; effectively "eating our seed corn to get through the financial crisis." What should we do about it?
Maybe the collective corporate hangover from large-scale investments in information systems is starting to fade. The results of recent Product Lifecycle Management (PLM) benchmark reports demonstrate that some companies are getting over their hangovers faster than others – and have learned a few lessons along the way.