Manufacturers are moving to the next generation of product life-cycle management (PLM), a product innovation platform. How do you plan, evolve, organize, and execute upon this new vision? We've published a series of reports over the past two years that define and detail the value, provide a plan for scoping, and most recently, a roadmap for realizing an extended view of PLM across the enterprise and value chain.
Where PLM, for years, has been focused on engineering and research and development (R&D) workgroups, a product innovation platform uses product data and information as its core and integrates with other related data and processes across the enterprise. It's not only an extended internal approach; it's an external approach to designing, developing, manufacturing, and delivering products that encompasses the entire value chain - so partners, suppliers, and even customers can collaborate iteratively.
With a product innovation platform approach to product life-cycle management, manufacturers from all industries can improve the success rates of new product launches, increase speed to market, and achieve higher customer satisfaction rates. That said, manufacturers cannot roll out a product innovation platform extended to other enterprise systems and value chain partners in one fell swoop; it should be in phases, depending on company size, industry, and primary business need as well as level of product, demand, and supply chain complexity.
Hence, IDC Manufacturing Insights presents the IDC MaturityScape for a product innovation platform — a road map to help guide manufacturers through their current and aspirational approach to designing, developing, and manufacturing products as well as enhancing customer experience with those products.
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