PLM solution – How to increase productivity with real time data
Starting a business comes easy today. In fact, countries like the UK and the US enable a simple and easy startup process. However, setting up and running a product development process is but a milestone. Ensuring that it scales and grows into something more through the manufacturing process – that is where the true challenge lies. That is something that people consider to be the mark of true success. And that is where the implementation of a proper PLM solution such as ours helps. The ability for you to increase productivity with real time data – that is the power that Frontech Solutions EU can offer you.
What are the most common obstacles that companies face?
Lack of capital, a low level of key business skills, and insufficient use of relevant business technology. There are three pillars of failure for small businesses. However, there is a simple way for you to overcome all these productivity barriers. And it lies in using real time data analysis as one of your fundamental resources.
How does tech fit with the aim to increase productivity with real time data?
For starters, by modernizing your business with our PLM software and other online tools, you are already saving time and boosting productivity. The best and quickest way of enabling this transition is through the use of cloud technology and the data analysis potential it offers. The use of real time data gathered through cloud computing helps you level the playing field between your company and bigger ones.
What is the role of PLM in all this?
By gathering and analyzing big data, our Product Lifecycle Management (PLM) solutions serve to help improve all aspects and departments within a company. From engineers and designers to manufacturers, suppliers, sales, etc. So, what are the key advantages that we offer you here?
- Strategic Benefits: Using data to improve the business outcomes and overall productivity of everyone involved in the product or service cycle.
- Driving Higher Revenue: Through the use of coordinated project management, higher quality of work and products, more precision in targeting audiences, and faster response time with consumers.
- Lowering Operational Costs: Increase productivity with real time data by reducing the overall costs of manufacturing, marketing, training, products, services, etc.
- Better Risks Management: Data brings in knowledge about customer trends and product margins, which improved compliance and quality as a whole.
Clearly, the upsides of using this approach will enable you to impact your business model on a broad scale. The following numbers can paint you a picture of just how broad that scale is:
- 20 – 30% increase in speed to market
- 50 – 70% reduction in project deadlines
- 5x increase in productivity
- 25 – 40% decrease in development costs
- 30 – 60% fall when it comes to reworking needs
- 40% less chance for quality issues
Why is integration such an important factor here?
The simplest possible answer here would be the collaborative access it offers to employees and business partners. Having a cloud-based system that gathers large amounts of real time data requires professional expertise to process it all, and analyze it accordingly. The only way for you to achieve that is by integrating the cloud feed with your other systems.
Real-time data and the effects it brings to the table
Gathering and analyzing data has always played a crucial part in all aspects of the business. However, this particular process, much like all others in the business world, has been changing in past years. Rather than gathering data and drawing conclusions from past events, companies today need to be more on top of things. You need to focus your efforts on real-time data, drawing conclusions and making decisions in the present time.
No matter the type or size of production we look at, real-time data is here to offer more accurate and more timely reaction times for department heads. And that is how you increase productivity with real time data. Big companies need big data in real time, to jump ahead of the competition.
So, by denying the use of PLM solutions in your operational processes, you are slowing down your progress rate. And this can ultimately lead to your company getting left behind the competition. Instead, you can achieve the opposite – pioneer the change and jump ahead of the rest.
The seven areas in which you can increase productivity with real time data
#1: Product quality
The quality of the offer you put on the market, be it products or services, is usually the #1 priority of companies. In most cases, companies have the data they need to improve the quality of their products. So, what stops them from taking action towards the betterment of it all? Usually, the lack of connection to data sources. Real time data testing provides the input required for the improvement of quality.
By using real time data, you can predict the need for maintenance and implement preventive measures well before any malfunctions occur. By doing this, you eliminate warranty-associated expenses, while reducing downtime and extending the lifetime of the equipment you use. So, you end up tackling one of your most common manufacturing risks.
#3: Build to order
The build-to-order (BTO) approach might have begun in the automotive industry, but it has since expanded to other sectors (aviation, IT, basic consumer goods). However, securing a sustained growth from BTO requires detailed analysis of consumer behavior and sales data. That way, you can increase productivity with real time data in accordance with consumer expectations.
#4: Warranties and recalls
These are the top two post-sale curses for manufacturers, especially if left unchecked. With the help of real time data, you can identify the trouble spots in your manufacturing process, eliminating the issue before it happens. As a result, you save money and lessen the chance of additional burdens.
#5: Real-time tracking
Using real time data in daily activities enables you to maximize the quality and quantity of your manufacturing capacities. However, this step will require continuous communication between all department heads, and transparent operational processes. The gain is well worth it:
- Growth opportunities
- Maximization of resources
- Costs saving potential
#6: Enterprise comparisons
Companies with multiple facilities need to be able to do a cross-comparison between different locations, to discover any discrepancies in productivity. Real time data gives you the chance to identify potential issues at different locations, which leads to smarter predictions. And this can further make your business expansion plans much easier to answer.
#7: Supply chain management
Knowing who you’re partnering with and who you can rely on is just as important as any of the other factors mentioned above. Real time data when it comes to your supply chain can help manufacturers pinpoint potential issues with particular suppliers. With such great visibility, you will be in a better position to assess, manage and negotiate risk management aspects.
The overall conclusion
If you want to reduce risks, avoid additional expenses and investments, prevent loss of business or being left behind, all the while boosting your operational and manufacturing efforts, you need the proper resources. PLM solutions like ours present one of the finer ways to increase productivity with real time data and make smart, informed decisions in the process. This is your chance to gain a competitive edge and skyrocket your profits through modern integration and upgrade.