PDM: EFFECTIVE PRODUCT DATA MANAGEMENT DRIVERS AND GROWTH PROFITABILITY
- Product Data Management (PDM) is a structured, collaborative solution that helps manufacturers control, access, and share crucial product data.
- Top performing manufacturers take more advantage of the economic recovery.
- Grew revenue 2.2 times more than average.
- Are much better at managing data: 1) 2.7 times "very effective" at finding the data they need; 2) 2.7 times as likely to be "very effective" at sharing data with others; 3) More than 2.5 times as likely to be "very effective" at
providing the correct data to manufacturing.
Leverage data management systems allows them to control, access and share crucial product data
- 30% more likely to use structured, collaborative data management solutions.
- 34% more likely to use Product Lifestyle Management.
Effective data management results in significant business value
- More agile response to the market: "We gets products to market in 6 weeks compared to competitors that take 6-12 months" - Manufacturer.
- Higher efficiency, less wasted time: "We have the same number of people... but now have three time the output" - Manufacturer.
- Increased design reuse: "Reuse of parts can save "hundreds of thousands of dollars per year"" - Manufacturer.
- Better quality, reduced errors: "Without solid change management, you might as well quit now!" - Manufacturer.
- IP protection.
Product Data Management, additional material/background, fundamental capabilities and value
- Serves as the foundation to add even more value with product lifestyle management (PLM).
- Addresses five dimensions of product complexity: 1) Mechanical complexity; 2) Mechatronics; 3) Global markets; 4) Global design & manufacturing; 5) Lifestyle profitability.
- Helps address the following challenges: 1) Developing more innovative products; 2) Increased complexity; 3) Need to develop products faster; 4) Demand for lower cost; 5) Developing in a global environment;
6) Inability to find data; 7) Frequently overwriting designs; 8) Unable to find latest revision; 9) Mistakes are made.
Top performing companies are better at data management:
- Over 3 times as likely to be "very effective" at completing data management tasks efficiently.
- Over 3 times as likely to be "very effective" at managing their design projects.
- About 26% of manufacturers spend one day a week (20% of their time) on non-productive data management tasks.
- Poorer performing companies spend, on average, 34% more time on nonproductive data management tasks than world-class companies.
- Companies spend days recreating lost data that could have been reused.