Representative End User Clients
Representative Automation Clients
Representative Software Clients
Overview
Product Lifecycle Management (PLM) has increasingly become a significant component of a broader industrial digital transformational strategy. PLM has come a long way from its historical roots of simply being confined to a company’s design/build process. Today’s solutions enable the complete digital definition of a product, streamlined product development, and digital continuity across the entire product lifecycle. This end to end, continuous loop solution is a 
strategic initiative providing measurable benefits across engineering, manufacturing, and service disciplines. Technology trends such as additive manufacturing, augmented reality, virtual reality, and IoT are driving market growth. These technologies are enabling companies to implement PLM solutions with new capabilities.
These capabilities translate to use cases, which bring value in the form of operational efficiencies, creation of new products and services, or even the transformation of the customer experience. ARC’s primary research points to an uptick in companies that are succeeding at advancing beyond their foundations in PLM to fully enabled digital solutions across multiple organizational disciplines.
PLM Is the Backbone of Digital Lifecycle Management
Today’s solutions from PLM vendors are becoming the backbone for successful business transformation because they provide the digital foundation and enterprise product record for a product through its lifecycle. The early roots of PLM were confined to a manufacturing company’s design/build processes. Today’s solutions have expanded significantly, from concept to end of life within a collaborative holistic framework for a wide variety of industries. Leading manufacturers are embracing the digital thread to streamline product development and create digital continuity across the product lifecycle.
The digital thread is a strategic initiative providing measurable benefits across engineering, manufacturing, and service disciplines. This technology enables a plethora of use cases resulting in increased efficiency, improved quality, faster time to market, enhanced innovation, automated service and compliance across an organization. Use cases, by definition, are not defined by the technology itself, but by the value they create within an organization. This value can come in the form of operational efficiencies, creation of new products and services, or even the transformation of the customer experience.
Global Disruption on Many Fronts Drives Industrial Digital Transformation
Whether it is political unrest, climate disruption, pandemic or global macroeconomic uncertainty, companies are concerned about their operational resilience, agility, and efficiencies. The biggest costs and pain points facing manufacturers today are supply chain disruptions, materials shortages, labor shortages, order backlogs, rising prices, and shipping and logistics.
Supply chain disruptions and vulnerabilities, be it local or global, have been brought to light by the Covid pandemic and remain sustained with geopolitical tensions. Delays and inefficiencies are further exacerbated when one supplier is the only source for a part or when one geographic area holds most of the options for a particular supply. Additionally, container shortages and port delays have created material shortages, forcing business leaders to rethink standard sourcing practices such as low-cost sourcing and just-in-time manufacturing.
The “great resignation” remains a hallmark of the labor market today. With demand for labor historically high and workers quitting their jobs at historic rates there is no better time to transform business processes to retain best talent and optimize processes to do more with less.
ARC Advisory Group clients can view the complete report at ARC Client Portal
If you would like to buy this report or obtain information about how to become a client, please Contact Us
Keywords: Digital Transformation, PLM, IoT, Digital Thread, Augmented Reality, Virtual Reality, Digital Manufacturing, ARC Advisory Group.