Effective PLM Flashcards
1
Q
What is PLM?
A
Product lifecycle management is the holistic business activity pf managing a company’s products throughout their lifecycles.
2
Q
What is the objective of PLM?
A
To maximise product portfolio value, increase product revenues, and reduce product-related costs.
3
Q
What are some main benefits of PLM?
A
Control and visibility of products. Transparency across lifecycles. Financial clarity. Waste-reduction (muda).
4
Q
How can PLM increase revenue?
A
By increasing the number of customers, the product range, service, and sales.
5
Q
Where can PLM cut costs?
A
Material and energy, product development (streamlining the project process).
