How can PLM improve an organisations competitive advantage?
Ray: The right PLM system supports a leaner, more efficient product development and sourcing process. When all the elements of an organisation – design and innovation teams, sourcing and compliance oversight teams, senior managers and financial teams – have alignment on style and financial goals, and can act rapidly and efficiently to achieve those goals, competitive advantage is maximised. For example, suppose the design and sourcing teams in your organization have 3 styles on the drawing board, and know they can work with their best suppliers to get high-quality samples developed rapidly, approved and into production. And suppose those teams also have insight into the financial performance of all 3 styles, and realise that 2 of the 3 styles will achieve their margin performance targets, but one will not. In that case, the teams can make the decision to redeploy precious budget and resources, throw all of their efforts behind the 2 “winning” styles, get those onto shelves early in the
