FRAMINGHAM, Mass.--(BUSINESS WIRE)--The product innovation platform's time has come: the evolution of PLM (Product Lifecycle Management) to the point where it connects with other enterprise data to enhance innovation has been discussed for years, but there were no real overriding factors driving this evolution forward. Now, with enormously complex, connected, and "smarter" products, the need for systems engineering and digital manufacturing and hyper-dynamic customer demand, the time is right for an approach to PLM that truly leverages all demand, supply, and manufacturing information to optimize products and processes. The new IDC Manufacturing Insights report, “IDC PlanScape: Building the Product Innovation Platform,” (Document#MI255220), lays the foundation for manufacturers looking to mature their PLM process to the next step.
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According to IDC Manufacturing Insights, the product innovation platform, with PLM as its core, essentially ties together all enterprise applications, data, and tools used to design, develop, manufacture, and service products in one system. This new PlanScape will complement the initial Perspective, The New Vision for PLM — The Innovation Platform, IDC Manufacturing Insights #MI249718, July 2014, by providing detail on the building blocks for the product innovation platform: the planning approach, the framework, and the reference model, as well as reinforcing the value of this enterprise-wide approach to designing, engineering, and manufacturing products.
Jeff Hojlo, program director, Product Innovation Strategies at IDC Manufacturing Insights states, “Perhaps the biggest benefit of a product innovation platform is that the development of products, the lifeblood of a company, can be tied to strategic business goals and multiple product, sales, and marketing efforts.”
Additional key benefits of a global cross-enterprise platform include:
- Enabling more rapid collaboration across the value chain: customers, engineering, manufacturing, supply chain, and service.
- Collaborative manufacturing — engineering and design work closely with manufacturing from the beginning of the product life cycle resulting in fewer errors, higher quality, and better products.
- Full view of data to provide the opportunity for product life-cycle analytics.
- Integration of service information (product failure modes, customer feedback) for product improvement.
- Enabling more rapid response to quality issues as well as product and software updates.
- Unification of information on complex products, whether, for example, heavy equipment that requires a systems engineering view or consumer packaged goods that have process and discrete (i.e., the packaging) requirements that need to come together.
"The product innovation platform will provide the unified, collaborative, and wide view for not only design and engineering but internal and external development team members from every discipline, leading to better decision making, collaborative systems engineering, profitable products, and exceptional customer experiences," said Hojlo. “IDC Manufacturing Insights anticipates that with the product innovation platform, new product launch success rates will improve, speed to market and service response rates will increase, and customer satisfaction rates will improve."
To arrange a one-on-one briefing with Jeff Hojlo, please contact Sarah Murray at 781-378-2674 or sarah@attunecommunications.com. Reports are available to qualified members of the media. For information on purchasing reports, contact insights@idc.com; reporters should email sarah@attunecommunications.com.
About IDC PlanScapes
IDC PlanScapes help to assure business value is recognized from technology by developing a technology initiative that is aligned with business goals, scoped to succeed, and properly resourced. By helping technology leaders make the case for a technology initiative, recognize unique resource requirements, and identify risk factors, IDC PlanScapes mitigate the greatest risks associated with technology initiatives.
About IDC Manufacturing Insights
IDC Manufacturing Insights assists manufacturing businesses and IT leaders, as well as the suppliers who serve them in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing asset intensive, brand oriented, technology oriented, and engineering oriented manufacturing industries. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world’s leading technology, media, research, and events company. For more information, please visit www.idc-mi.com, email info@idc-mi.com, or call 508-988-7900. Visit the IDC Manufacturing Insights Community at http://idc-community.com/manufacturing.
