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In reality, most PLM environments reviewed by CIMdata have rarely been used effectively across the extended enterprise as originally envisioned. However, to address today’s business challenges, PLM environments must enable rapid evolution in all areas of the business-market requirements, product complexity and mix, distributed production and service, regulatory compliance, etc. Executives are recognizing the positive impact PLM can have in helping their companies meet its business potential. This evolution is enabling enterprise-level digital transformation and driving enterprise level product and process innovation.
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PLM enabling technologies and solutions have evolved significantly over the past few decades, bringing new digital capabilities such as driving a virtual model with simulation and/or field data to predict product behavior and provide performance insights directly to the development process and across the product’s lifecycle. Manufacturers are also recognizing the value of the digital thread and comprehensive digital twins as concepts that can be used to enable true end-to-end lifecycle innovation and optimization. As global competition continues to increase and digitalization technologies rapidly mature, manufacturers have recognized that undergoing digital transformation can deliver quantifiable business benefits in multiple areas. This is driving the need for more intelligent, flexible product development environments, more responsive production and service capabilities, as well as the need to enable and manage extended lifecycle value chains. Manufacturing enterprises across all industries are facing a myriad of challenges that impact most, if not all, facets of their business as products continue to become more personalized, more complex, more capable, more connected, and interconnected.
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