How is it that ever-more-sophisticated electronic gear can be pumped out at continutually shrinking prices in the face of inflation and rising labor wages? Many times the root of this magic is made possible by software.
Product Lifecycle Management (PLM) software is often at the heart of product innovation. PLM helps companies rapidly go from ideas and bare concepts to fully fleshed out designs very rapidly. PLM software drives innovation by letting companies capture their ideas electronically and to enable visualization prior to ever producing a single copy of the product. PLM is changing how companies create brand and identity. In many companies, product development has moved from the engineering level into a more strategic position in company’s boardrooms.
Using PLM, designers can simulate and tweak the defining parameters of products in real-time. This allows designers to create several generations in design before the first product is manufactured, and this approach can save manufacturers time and money while enabling them to create products with better designs.
The diverse range of companies using PLM include defense companies like Lockheed-Martin who use it to manage complex aircraft CAD schematics, and fashion companies like the GAP who use it for tracking product parameters and designs, like colors, cuts and fabrics. PLM is being deployed in industries as diverse as pharmaceuticals, defense, packaging, architecture and construction, life sciences, mining and transportation. Worldwide, the market for PLM is growing at 8.5 percent each year and is expected to exceed $30 billion by 2011.
