How To Make Product Lifecycle Management (PLM) A Strategic Asset

first_imgGuest author Kevin Prendeville is a global managing director with Accenture’s Product Lifecycle Services practice.The tables have turned on many large high-tech companies – market leaders have become followers while followers have become leaders. What’s behind the seismic shift? The ability of those former followers to leverage investments in product development processes to deliver more innovative and successful products. These processes, known as Product Lifecycle Management (PLM), extend from idea gener¬ation through product launch to product retirement.An analysis by Accenture has found that large high-tech companies can spend $1 billion or more per year on Product Lifecycle Management in hopes of substantially boosting revenues and cutting costs. But Accenture also found that many C-suite executives view PLM as the engineering department’s black box – a critical enterprise business process poorly understood, measured or managed.Today’s competitive business environment requires that top management see PLM as a strategic corporate asset, a cross-functional, enterprise-wide business discipline that augments innovation, helps drive revenue growth, and reduces costs of everything from engineering rework to regulatory compliance.What Is Product Lifecycle Management (PLM)?PLM integrates a multitude of critical cross-functional activities, such as:product strategyportfolio managementproduct managementidea and requirements gatheringproduct designproduct engineeringproduct validation and complianceproduct costingproduct qualitydirect material sourcingmanufacturingafter-market services product retirementPLM capabilities support PLM activities to drive activities, decisions and data within the end-to-end PLM process. Examples includeintellectual property managementproduct structure and reuseengineering changesstage-gate approvalsideas and requirementssoftware configurationquality tests and defectsproduct costsdevelopment project statusFor global enterprises to maximize the business impact of PLM, they need to examine two dimensions: effectiveness and efficiency.Large high-tech companies are making substantial investments – often 5% to 25% or more of revenue – in PLM. But according to Accenture’s analysis, nearly half of PLM ends up wasted on products that do not meet market needs or timing. High-tech enterprises have thousands of highly skilled and well-paid designers, scientists and engineers working inside global PLM processes across hundreds of current and future products. But due to lack of central coordination, prioritization and integration of processes, systems and data, they’re often working on essentially useless or redundant tasks. That means there’s a huge opportunity for improvement.Technology can help improve PLM – if it’s implemented with an integrated plan focused on a distinct business process. Most global companies have deeply fragmented PLM systems comprising 20 or more applications. PLM software vendors provide powerful and field-tested applications – but not the kind of end-to-end business process coverage available in leading customer relationship management (CRM) and enterprise resource planning (ERP) applications. Most high-tech companies use three or more PLM vendors to span the various PLM capability areas.Four Ways To Improve PLMTrue enterprise PLM requires building an end-to-end framework that spans multiple solutions and accom¬modates business processes and data from marketing, design, product portfolio management and more. A one-size-fits-all answer does not exist, but Accenture has identified four best practices to get the most out PLM:Step 1. Create an enterprise-wide framework to define PLM capabilities. Define what is and is not PLM, then formally break down and re-evaluate current PLM capabilities. Review all processes, applications, metrics, organization and data that underpin product development process flow from initial concept to product retirement. Then examine the performance and maturity of each as objectively as possible. High-performance businesses structure PLM as a hierarchy of capabilities that span the process, represent various organizations and competencies, and connect all corners of the PLM landscape with each another. Most companies that go through this exercise are surprised by how disjointed and fragmented their overall PLM approaches are and by how many gaps and redundancies they uncover. And they are often alarmed to find how few metrics and how little docu¬mentation supports their PLM activities.Step 2. Link the PLM framework’s capabilities to key corporate and product priorities. Settle on five-to-ten business metrics that track the effectiveness and efficiency of innovation and product development outputs, transcending any one department or function. They might relate to pipeline throughput, cost of engineering, reuse of platforms or components or resource use. For instance, if plans call for more new products to be developed in lower-cost countries, the PLM framework would link that objective to the corresponding capabilities and metrics.Step 3. Use the prioritized PLM framework As An investment planning tool. It is relatively straightforward to turn the results of these exercises into a powerful tool for ongoing planning activities. The organization’s varied constituents can more easily analyze trade-offs, guide investments in product development improvement projects, and measure the impact of those projects over time. For example, one high-technology company used this framework to concentrate its future PLM focus and investment to improve software product development processes rather than mechanical design. Basically, the firm chose to improve the productivity of its thousands of software designers instead of its hundreds of mechanical designers.Step 4. Establish a group to own and update the PLM framework and corporate roadmap. As with CRM, ERP and supply chain management, there has to be a single, formal organization to advance and support PLM. That organization should have visible, unambiguous sponsorship from a senior executive. This helps ensure PLM becomes part of the company’s innovation fabric rather than a one-time project.Three PLM Success StoriesUsing these best practices, several high-tech companies have made significant progress with their PLM strategies:1. One version of the truth. A provider of servers and storage equipment re-designed its business processes to better leverage PLM technologies. The firm created “one version of the truth” for a single engineering change process for all its hardware products including several from large acquisitions.2. Integrating hardware and software. A provider of electronic gaming equipment developed new processes, data models and a central application to manage the relationship between its hardware designs and corresponding software designs, as they evolved through development and change processes.3. Increasing re-use. A global consumer electronics company implemented a streamlined portal and graphic user interface – providing a fast and visual way for designers and engineers to search, find and re-use components, solutions and information stored in its PLM databases.The good news is there are many cross-industry cases proving the merits of improving PLM. The better news is that many industries have already blazed PLM trails, providing proven strategies, lessons learned and methodologies for high-tech companies to leverage.Image courtesy of Shutterstock. Tags:#business software#enterprise IT#Software Related Posts Cognitive Automation is the Immediate Future of… Massive Non-Desk Workforce is an Opportunity fo…center_img kevin prendeville IT + Project Management: A Love Affair 3 Areas of Your Business that Need Tech Nowlast_img read more

Citizenship Bill won’t directly benefit NRC excludees: Home Ministry official

first_imgNon-Muslims excluded from the National Register of Citizens (NRC) in Assam would not immediately or directly benefit from the Citizenship (Amendment) Bill, a senior Home Ministry official said.The comment by the official, who spoke on the condition of anonymity, comes as the Centre faces a backlash in the northeast, including in BJP-ruled Assam, over the Bill. Those vehemently opposed to the Bill fear that it would make it possible for the government to grant Indian citizenship mostly to illegal Hindu migrants from Bangladesh in Assam, who came after March 1971, in violation of the agreement of the Assam Accord, 1985. Almost 40 lakh people were excluded from Assam’s final draft of the National Register of Citizens (NRC) that was published on July 30 last year. The NRC is a Supreme Court monitored exercise that was carried out in the backdrop of the Assam Accord. Almost 30 lakh of those excluded from the NRC have filed claims to be included in the list of citizens. Government officials would now examine these claims and the final NRC would be published later.The future of those people whose nationality was “indeterminate” was yet to be decided, the official said.“Those who will not make it to the final NRC, does not mean they will immediately get citizenship,” the official asserted. “There will be legal hurdles because in their application for NRC they claimed to be Indians. You cannot suddenly change your stand. There won’t be a blanket citizenship offer.”The Intelligence Bureau (IB) told a joint parliamentary committee on the Citizenship Bill that those who have come to India from the three countries under reference due to religious persecution but have not declared so at the time of their arrival in India “will have to prove that they came to India due to religious persecution, if they had not declared so at that time of their arrival in India.”The law seeks to grant Indian citizenship to members of six communities — Hindus, Christians, Parsis, Buddhists, Jains and Sikhs — who came to India till December 31, 2014. It also reduces the mandatory requirement of 12 years stay in India to seven years to be eligible for citizenship if they do not possess any document.“The Bill is not only for Assam, it’s for the entire country. There are many people who came from the three countries due to religious persecution,” said the official.The official added that the application for citizenship would be approved only after the concerned State government cleared it.last_img read more