Benefits
Documented benefits of product lifecycle management include:
- Reduced time to market
- Increase full price sales
- Improved product quality and reliability
- Reduced prototyping costs
- More accurate and timely request for quote generation
- Ability to quickly identify potential sales opportunities and revenue contributions
- Savings through the re-use of original data
- A framework for product optimization
- Reduced waste
- Savings through the complete integration of engineering workflows
- Documentation that can assist in proving compliance for RoHS or Title 21 CFR Part 11
- Ability to provide contract manufacturers with access to a centralized product record
- Seasonal fluctuation management
- Process stability
- Improved forecasting to reduce material costs
- Maximize supply chain collaboration
Read more about this topic: Closed-loop Lifecycle Management
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