What is PLM Software?
PLM software is a digital tool designed to help manage a product’s lifecycle. Different products go through various stages, from ideation and manufacturing all the way to the end of their lifecycle. It’s important for organizations to manage their product’s life cycle as it helps them track different data points to give a better idea of the status and movement of their product. It also points out different improvement areas that they can work on to increase profit, efficiency, and productivity.
Importance
In today’s digital world, storing documents and data in file cabinets is declining in popularity. Instead, they’re kept on computers and different cloud servers. When you bring your PLM process to the digital space, it allows you to easily integrate and experience all the benefits modern technology has to offer for managing products. Not only that, but the right PLM software helps you ensure that all your products meet relevant standards and continuously improve in terms of quality. By simplifying complex production tasks, you can focus on innovating your product lines and delivering excellent service to your customer base.
Moreover, keeping track of all your products throughout their lifecycles can be a costly and complicated process. But if you adopt the right PLM software, you can optimize various production processes within your organization and save operational costs in the long run.
Key Features
While it’s crucial to select features based on your organization’s needs, it’s also important that your software has all the basic features. Some of the key features you need in any PLM software include:
Product data management
Workflows
Checklists
Mobile access
Documentation
Bill of Materials (BOM)
Project management
Data gathering and analytics
Selecting the Right PLM Software
The PLM software options listed in this article have been carefully selected and curated to cater to your business needs. To summarize things, here’s a quick comparison table of all the options to make it easier to choose the best one for your organization:
*billed annually
