How digital transformation supports improved product lifecycle management

 Insight 1

With market and competitive shifts happening in real time, leaders can quickly become laggards in today’s global economy.

To avoid this fate, companies need to establish a strong product lifecycle management (PLM) framework.

 Insight 2

Pressures include unprecedented volatility in customer demand and supply, increasing globalization and the rise of digital-first priorities and e-commerce.

As a result, companies need to plan for the worst-case scenario, even as they strive to achieve the best case.

 Insight 3

A new breed of global customers is also driving the rise of e-commerce and a digital-first mentality.

They work remotely and are reachable predominantly through social media and digital ecosystems.

 Insight 4

Optimal PLM involves implementing a single source of truth and an end-to-end, digitally connected supply chain.

This allows businesses to have greater global collaboration, knowledge sharing, continual improvement, standardization and resource efficiencies.

 Insight 5

Companies can also work to bolster networks and develop digital ecosystems with external partners to create additional value and a sustainable competitive advantage.

Businesses have seen numerous benefits in terms of revenue and added value by digitizing operations. Supply chain transparency and synchronization lead to increased service levels.

 Insight 6

Several proactive choices are available to enterprises that recognize the digital PLM imperative.


 Insight 7

We recently helped a large company experience a 40% increase in the net present value of its product portfolio.

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