Early adopters of Product Lifecycle Management (PLM) have achieved valuable benefits to the product development process. However, PLM alone can no longer help businesses sustain competitive advantage.
In today’s digital age, driven by vast amounts of data consumed from connected products, equipment and systems, business leaders and product innovators must be focused on data-driven insights and evidence-backed decision making.
Product Lifecycle Intelligence (PLI) is an evolution of PDM/PLM, focused on mining operational insights from product development data that has accumulated within mature PLM environments, as well as integrated business systems like ERP, quality and manufacturing platforms.
Enabled by advanced machine learning techniques, PLI helps organizations predict the impact of product development decisions on key business performance metrics like demand, cycle time, cost, quality, regulatory compliance, manufacturability and supply chain efficiency.
PLI helps innovators:
The insights gleaned from PLI can benefit multiple business contexts in the organization, including R&D, regulatory, finance, quality, manufacturing, supply chain and service functions.
PLI applies machine learning and predictive modeling techniques to integrated datasets across the product lifecycle, including PLM, ERP, MES, QMS, IoT and more.
From this, business leads can make inquiries to describe, diagnose or predict a problem, and then prescribe a solution.
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With the right strategy, industrial manufacturers can capitalize on the opportunity to generate business insights from data, capturing sustainable economic value. Here’s an example of a use case.
Medical devices are essential to our modern society. But the companies who make them face strict regulatory, quality and safety standards. To succeed, they must constantly innovate, drive down costs and navigate complex regulatory pathways.
Siloed data. Unstructured data. Lack of connectivity. Lost opportunity. With all the data being generated and collected, internally and on the Web, machine learning can address the challenge of connecting the dots, drawing insights, and making…