"Product Lifecycle Economics" Seen a Must for Manufacturers

Limitations of product lifecycle management, need for agility in global economy will drive PLE adoption, Manufacturing Insights predicts

  1. Vertical Integration to System Integration: Increased outsourcing of product components demands further integration with external components and systems, forcing manufacturers to redefine interfacing capabilities.

  2. Multinational Operation to Transnational Operation: Suppliers need to be on a common "digital backbone" as companies expand outside traditional boundaries and need to integrate internal and external data from dissimilar systems.

  3. Product Cycles Driven to Market Cycles Driven: Manufacturers must develop a product management process to align their operation with market and customer needs, responding frequently, immediately, and directly.

  4. Mass Marketing to Mass Customization: As manufacturers begin to offer mass customization, they need an effective two-way flow of information throughout a well-organized, highly efficient supply chain.

  5. Stressed Service to Lean Service: OEMs must consider service operations and the impact of design decisions on serviceability early in the design phase to reach the optimal balance between initial and downstream costs.

Additional Articles of Interest

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