We recently received an excellent white paper from Harvard Business Review and Autodesk, “Product Life Cycle Management: A Catalyst for Business Transformation”. I had the opportunity to share the white paper with John Kuta at KETIV, and then get his insights on how this PLM story aligns with his extensive experience in value engineering in our field. Here’s how the conversation unfolded.
John KutaHead of PLM & Value Engineering
DJ: So, I read through this Harvard Business Review white paper on Product Lifecycle Management in its entirety. I must admit, it’s a bit overwhelming. Can you break it down for me in plain English? What’s the gist of it?
John: Absolutely! The HBR white paper basically argues that PLM, or Product Lifecycle Management, is becoming essential for manufacturers who want to thrive in today’s crazy competitive market.
Think of it like this: consumers want awesome products delivered quickly, but global supply chains are facing all sorts of disruptions. To keep up, manufacturers need to be super agile, and PLM helps them do just that.
DJ: Okay, that makes sense. But what exactly is PLM? I’ll play dumb as “the marketing guy” here. It sounds kind of techy.
John: You’re right, it does involve technology, but at its core, PLM is about managing all the information and processes related to a product’s entire journey – from the initial brainstorming session to the moment it’s discontinued.
The Harvard Business Review white paper highlights how companies are often stuck using outdated methods like email and spreadsheets to handle all this data, which can lead to errors, delays, and missed opportunities. PLM changes the game by providing a central hub where all this information lives, making it accessible to everyone involved. The white paper cites experts who say this shift from a “functional-centric” to a “product-centric” approach is a major change for organizations.
DJ: I see. So, it’s like having a single source of truth for everything related to a product. But can you give me a concrete example of how this actually plays out in the real world?
John: Sure! One area the white paper focuses on is quality management. It points out that discovering defects after a product has hit the market can be incredibly costly, both in terms of money and reputation.
PLM helps companies become more proactive about quality by involving suppliers earlier in the design process. Imagine a supplier being able to flag a potential problem with a material before it even gets to the manufacturing stage – that’s huge in terms of preventing delays and ensuring a high-quality product.
eBook from the Harvard Business Review + Autodesk
Product Life Cycle Management: A Catalyst for Business Transformation
DJ: That’s a great example. It sounds like PLM can really streamline things and help companies avoid costly mistakes. But isn’t this just a fancy tool for big corporations? Can smaller businesses really benefit from PLM?
John: That’s a common misconception, but the readers will see that PLM is no longer just for the big guys. Cloud-based PLM solutions have made it much more affordable and accessible for businesses of all sizes.
This is particularly important for smaller manufacturers who might not have the resources for expensive on-premises systems. It reminds me of our customer ME Elecmetal. They are a medium-sized company who has integrated Autodesk Vault and Fusion Manage to custom workspaces for enhanced tracking and management of Engineering Change Orders, proposals, and various product lines, with dedicated areas for R&D, Quality, and Field Reporting to improve visibility across teams and functions. That’s a sophisticated solution for a non-enterprise company. It just takes focus and dedication.
DJ: That’s good news for businesses of any size and their ability to compete! But if a company decides to adopt PLM, what are some of the key things they need to keep in mind to make it successful?
John: The white paper stresses that simply implementing the technology isn’t enough–and they are right. Companies need to approach PLM as a complete transformation, which requires a shift in mindset and strong leadership.
It’s crucial to have buy-in from all stakeholders, from engineers and designers to suppliers and executives. The experts interviewed in the white paper also emphasize the importance of training and support to help employees adapt to the new system and ways of working.
DJ: It sounds like PLM is a pretty big deal. Any final thoughts on what the future holds for PLM?
John: You know, it’s not a big deal. People shouldn’t be intimidated by PLM. But it is a big deal in returns on control and profitability. To support that point, the HBR white paper ends on a pretty optimistic note itself, suggesting that advancements in artificial intelligence (AI) and machine learning (ML) will make PLM even more powerful in the future.
Imagine a PLM system that can analyze massive amounts of data to predict potential supply chain issues or shifts in consumer demand – that’s where things are headed. It’s all about helping companies become more data-driven and make smarter decisions throughout the entire product lifecycle.