Integrated Product Lifecycle Management in the Era of IoT
Integrated Product Lifecycle Management (PLM) is essential to successful product release in an increasingly competitive and complex market. Behavior by Best-in-Class firms demonstrates how PLM can and is being used as an innovative platform for digital transformation and, ultimately, a tool for promoting more successful and effective product development from start to finish.
Key findings include:
40% of Best-in-Class manufacturers identify PLM as the primary application used for release management, and 33% identify it as the primary application for change management.
Best-in-Class manufacturers are 47% more likely to meet their product launch targets.
Best-in-Class firms cut their length of development time by 19%.
63% of Best-in-Class firms integrate PLM with ALM (application lifecycle management)
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