Product Lifecycle Management (PLM)

Rapid product turns and accelerated product introduction is a key competitive parameter in the global competition. Increased complexity of the supply chain due to outsourcing in every link only adds to the challenges faced by most companies to manage product information, product processes and collaboration in all phases of the product life cycle.

 

Companies often find that the realized margin on each product is much lower than planned. The profit leaks occur in all stages of the product life cycle across all functional divisions and the extended supply chain:

 

 

The challenges from complex supply chains and the need for rapid product turns present companies with critical business issues leading to profit leaks:

 

	Missed product launch dates and volume objectives leading to lower realized revenue
	Missed product cost targets leading to lower margins or to the late scrapping of a product
	Inefficient management of outsourced design and manufacturing relationships leading to higher total material costs and lower productivity
	The lack of timely availability of product, part & component, and supplier information leads to lower productivity among design, development, NPI, and manufacturing operations
	Missed customer requirements by not capturing field service data lead to customer satisfaction problems and thus lower revenue.

PLM addresses these issues by providing effective management and access to product information from design to production and phase-out for all stakeholders across the extended supply chain. Optimized and controlled business processes around the product life cycle stages, including collaborative product definition and change management, are secured through industry best practice workflows implemented through PLM.

 

PLM ensures elimination of non-value adding activities and the application of the complete product knowledge within in the company, in all phases of the product lifecycle and across the extended supply chain.

 

Minerva services

 

Optimizing the internal and external business processes in the extended enterprise according to industry best practice is crucial in order to get a successful PLM project. Concrete PLM initiatives to optimize the business processes and collaboration based on a thorough analysis of the business and the requirements throughout the product lifecycle ensures, that PLM becomes a quantum leap towards maximized profit on each product.

 

To realize the potential results from PLM it is vital to choose a partner with many years of experience in the area. Minerva has successfully worked with international companies in Scandinavia and Europe on PLM projects. Our methods and experience with the challenges of design intensive and manufacturing companies ensure that the expected results are realized through focused and systematic projects.

 

Minerva PLM Business Consulting offers to

	Evaluate the company's potential benefits of PLM
	Establish a PLM strategy that will support the business strategy of the company
	Ensure change management and rooting of results
	Optimize and streamline business processes throughout the product lifecycle according to industry best practices
	Ensure results and continuous improvements through performance management (KPI) and risk management

 

 Read about Minerva IT Services and Agile PLM solutions

 

 Download PLM brochure [Danish .pdf ]

 

Selected companies that utilize Minerva

 

              

 

   

 

 

Improve change management process and product data collaboration.

 

 

 

Management of global outsourcing and implementation of efficient work process.

 

 

 

Management of global information flow and product processes.

 

 

 

Integration of global quality handling and product development.

 

 

 

Management of global information flow and product processes.