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
Famous quotes containing the word benefits:
“In America the young are always ready to give to those who are older than themselves the full benefits of their inexperience.”
—Oscar Wilde (1854–1900)
“I do seriously believe that if we can measure among the States the benefits resulting from the preservation of the Union, the rebellious States have the larger share. It destroyed an institution that was their destruction. It opened the way for a commercial life that, if they will only embrace it and face the light, means to them a development that shall rival the best attainments of the greatest of our States.”
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“It is with benefits as with injuries in this respect, that we do not so much weigh the accidental good or evil they do us, as that which they were designed to do us.—That is, we consider no part of them so much as their intention.”
—Laurence Sterne (1713–1768)