Process of innovation in product lifecycle management business strategy

Abstract

This article proposes a scenario of Product Lifecycle Management (PLM), as a innovative business strategy based on the analysis of business drivers, industry requirements, limit of current solution, and recent state-of-the-art review in the domain related to PLM. Potential industrial impact of the developed PLM technology solutions is analyzed. It is hoped that the proposed PLM technology solutions will form the frontier basis for further research, development, and application of PLM systems to quickly adapt to the dynamic changing market for industry companies to pursue the most advanced competitiveness. This article presents a process oriented framework to support effective PLM implementation with a set of lifecycle oriented business process reference models which links the necessary fundamental concepts, enterprise knowledge and software solutions to effectively deploy PLM.

A review on the strategic use of IT applications in achieving and sustaining competitive advantage

“…It is argued by [4] that competitive advantage can be attained by providing the utmost level of rewards through a differentiation. In [16] author mention the importance of innovation and doing things differently from competitors in business to create uniqueness with the purpose of creating unique value to customers. He further states that for an application to be unique and strategic in current organizations, it has to be customized as well as being manageable over a long term.…”

Supplier Contribution to Buyer Innovativeness: The Influence of Customer Attractiveness and Strategic Fit

“…Product development planning is more sequential and marketing is more volume orientated. In a highly competitive environment, business requirements drive technology solutions and innovations in order (1) to speed up product development, (2) to enhance manufacturing and supply capability and capacity and 3to improve revenue from lifecycle efficiency (Gecevska, Cus, Polenakovic, & Chabert, 2011). Product Lifecycle Management (PLM) is a portfolio approach of products, processes and services from the initial concept, through design, engineering, launch, production to final disposal.…”

“…Product Lifecycle Management (PLM) is a portfolio approach of products, processes and services from the initial concept, through design, engineering, launch, production to final disposal. Gecevska et al (2011) pose that, as a business strategy, PLM lets distributed organizations innovate, produce, develop, support, and retire products. When buying companies diversify for example by vertical integration, a shift from long product lifecycle to short life cycles may need a strategic adjustment (Ansoff & Stewart, 1967).…”

PLM-MES Integration: A Case-Study in Automotive Manufacturing

“…PLM is a strategic business approach that integrates all the information related to the company products and activities throughout all the product lifecycle; it supports the collaborative creation, management, dissemination and use of product definition information across the extended enterprise from conception to end of life, and allows information and knowledge sharing within and between organizations [2,3]. The aim of PLM is to ensure the fast, easy and trouble free finding, refining, distribution and reutilization of the data required for daily operations [4].…”