How to extract more business value from PLM?

As a business owner and a manufacturer, your number one goal is most likely extracting the highest value possible out of all of your business endeavors. In order to simplify the Product Lifecycle Management process, a lot of manufacturers opt for customized PLM solutions. However, the road to success with PLM can be a long one. You might find it difficult to extract more business value from PLM solutions you opted for, but that doesn’t mean there aren’t a few things that will help you with this task.

We here at Frontech Solutions EU are more than happy to help our customers get the most out of their PLM software. Schedule a consultation with us and our team will gladly explain to you all the ways our PLM solutions will make a difference in the manufacturing process, as well as what to focus your efforts on if maximum profit and return on investment is what you are looking for.

First things first – why are you not extracting all the value possible from your PLM software?

There is one common mistake a lot of companies make when they first implement PLM solutions. They have ambitions for their projects which are too high, and they often stall after they get through the first implementation which is typically supporting core Product Data Management (PDM). But the truth is that there is a lot more a company can do in order to extract maximum business value.

Instead of focusing on initial implementation, studies show you should focus more of your energy to supplemental PLM projects. Your company might cover all the basics but that doesn’t mean that the market won’t change. Or that your business won’t go through any changes. And changes signify a new potential for your business to reach a new peak and to seize the opportunities it now has.

Everyone knows that PLM is a piece of software that can change your business for the better if implemented correctly. So whether you are needing PLM solutions for industrial manufacturing, PLM for apparel and footwear or energy service and supply, pay attention to the following ways to extract maximum value from PLM.

Have a vision of how you want to extract more business value from PLM

A lot of business owners know that there is indeed a lot of value to be extracted from PLM, but they just don’t know how to get there. That’s why we suggest you don’t opt for PLM simply because it’s a cool new thing everyone is doing. Instead, have a vision of what you want to achieve with this piece of software. Know where you are headed and think about the tools that help you get there. But before you actually pay for a specialized PLM solution, first do a mandatory evaluation of your business. See whether PLM is a worthwhile and reasonable investment. If it is, then feel free to schedule a consultation with us and get your hands on a tool that will make it easier to manage the entire lifecycle of your products. From the initial stages to the finishing ones.

There is a number of things PLM can do for you

There is a good reason PLM has become such a widespread phenomenon. But aside from helping you track real-time data and managing the entire manufacturing processes in one place, a good PLM software can do much more for your business. And all of these benefits will help extract more business value from PLM. These solutions can help you reduce the cost of your operations, manage complexity, as well as improve productivity. As to some other ways PLM can assist your business, take a look at the following benefits.

• A good PLM software can help enable top-line growth as well as margin expansion. 
• You can identify other areas beyond engineering that will be able to benefit from PLM.
• PLM will help you provide better insights and data access for downstream functions.
• PLM solutions can provide good grounds for supporting the Internet of Things (IoT) and other transformational initiatives.

The second one is quite an important feature. Digitalization is constantly changing the market landscape as we know it, and being ready for those changes is imperative. Because if you are not ready to adapt to the needs of the market and buyers, you can rest assured there will be those who are. By helping you support these changes, PLM will help you retain your company’s value and even increase it. And this is just a shining example of how PLM can help your business maximize its profit and gain leverage over its competition.

Get in touch with Frontech Solutions EU

There is no reason for you to wait to get started with PLM. If you have assessed your goals, realized that they could benefit from PLM solutions and decided that this is an investment that is worthy of your time, then get in touch with Frontech Solutions EU. Beyond the traditional ways, our PLM software will help you stay ahead of the competition by helping you adapt to the market changes. Among other things. Our PLM solutions will provide a foundation for business growth. And we will gladly make you a part of the community with PLM skills. And it’s our solutions that will help you remain relevant in your niche, be that the footwear and apparel industry or you need PLM system for service industry or even something else entirely.

The bottom line

Know that PLM is more of a journey than a destination. As it requires a lot of attention, dedication, and the right implementation. But once you do manage to get everything in order and to achieve balance, you will finally succeed and will be able to extract more business value from PLM. And that’s when your efforts will pay off.