In today’s business landscape, characterized by a fast pace and intense competition, the race to bring innovative products to the market has never been more challenging. Companies are faced with a dichotomy of demands: on the one hand, they must accelerate product development to meet customer expectations, while on the other hand, concerns related to cybersecurity and IT safety push for caution and meticulousness. Traditional legacy solutions for Product Lifecycle Management (PLM) show additional obstacles as their complex customization requirements hinder collaboration and impede progress.
In this article, we will explore the main barriers that manufacturers encounter in their attempt to make product development easier and how modern solutions like Software-as-a-Service (SaaS) are ready to revolutionize PLM landscape.
To accelerate product development: a double-edged sword
The demand for faster product development and shorter time-to-market is constantly increasing. However, as innovation speed accelerates, product variability also rises. Companies find themselves caught between the need for rapid deliveries and the desire to ensure safe and fully updated systems. Balancing these opposing forces becomes a challenging task, using several resources and excessive time spent on fixing systems rather than introducing new functionalities.
The solution lies in transforming how we deliver PLM. By leveraging modern technologies and embracing a more agile approach, companies can achieve a delicate balance between speed and security, in this way, they can easily meet market demands with efficiency and confidence.
The conundrum of cooperation
Cooperation is a key-point for successful product development, both considering internal department and external partners. Legacy solutions often require proper investment to create and maintain a global extranet, dissuading many manufacturers from embracing seamless collaboration due to security risks.
To overcome this conundrum, companies should adopt next generation PLM solutions that offer secure and scalable collaboration capabilities. SaaS offerings represent a path to follow, enabling organizations to cooperate seamlessly with internal teams and external partners, unlocking an enormous potential for innovation.
The hidden costs of limited visibility
Another obstacle that obstructs simplified product development is the lack of visibility among users related to design information and changes; this lack of transparency can lead to errors which could be avoided, unnecessary delays and additional costs due to remedial actions.
To overcome this challenge, modern PLM solutions focus on improving visibility throughout the whole product lifecycle. By providing real-time access to design data, changes and project status, companies can make informed decisions, reduce errors and optimize processes, as the same as increasing productivity and cutting costs.
The risks of customization
Legacy PLM software offers extensive customization capabilities, which can be both an advantage and a disadvantage. Although customization gives the possibility to adapt the software to specific needs, it also perpetuates outdated and inefficient processes inherited from past practices.
Abandoning customization and embracing a more standardized approach can lead to greater efficiency and streamlined workflows. Modern SaaS solutions offer a balanced approach, allowing some level of customization while adhering to fundamental principles such as security, scalability and upgradability.
Faced with ever-changing market demands, the need to overcome barriers to innovation in product development has never been so crucial.
By recognizing the challenges posed by speed, collaboration, visibility and customization, companies can pave the way for a transformative journey in PLM.
Miralis helps and supports customers in embracing modern solutions such as SaaS PLM, enabling organizations to improve product development processes, achieve seamless collaboration and enhance visibility.
The future of PLM lies in agile technologies that find the right balance between innovation, security and efficiency, empowering companies to thrive in today’s competitive landscape.