Product lifecycle management empowers enterprises to create product improvements while saving money and enhancing productivity. It can assist the streamlining of services through an increase of communication within the company. Efficient product life cycle management provides numerous benefits, such as quick market arrival, higher quality products on the market, increased product safety, more sales opportunities…
Efficiently Manage Your Product’s Lifecycle
Product lifecycle management helps organizations make product improvements while saving money and increasing productivity. Initially, it can facilitate a streamlining of services through an increase in organizational communication. Incorporating product lifecycle management in your organization will provide a systematic approach to managing a product’s lifecycle from inception to disposal. It will help serve as a…
Develop a Strategic Approach Using Data
Data mining is the process of finding patterns, connections and correlations within large data sets to predict outcomes. Data mining enables companies to recognize patterns and establish relationships. Data mining involves analyzing data from various perspectives and summarizing it into useful information. The information helps businesses discover previously unrecognized patterns. Data mining can be broken…
What Makes a High Performance Team?
A high performance team consists of individuals with defined functions and complementary abilities, who maintain common goals, and who time and time again display high levels of collaborative innovation that creates high level outcomes. High performance teams often have strong levels of support and camaraderie with focus on specific tasks. High performance teams have highly…
Data Visualization Sensation
Data visualization is the presentation of data in a pictorial or graphical format. It enables decision makers to see analytics presented visually, so they can grasp difficult concepts or identify new patterns. With interactive visualization, you can take the concept a step further by using technology to drill down into charts and graphs for more…
Bookmark Your Benchmark
Benchmarking is a means of comparing your company, operations, or processes against other companies of the same industry or in the larger marketplace. Benchmarking has the ability to be applied against any product, process, function or approach in business. Benchmarking equips organizations to increase efficiency and revenue. Additional benefits include: Increases awareness of key performance…
Plan for Demand
Customer demand planning is a significant part of managing value changes. Typically, the initial step in customer demand planning is to forecast product demand. Organizations can plan the use of resources in agreement with the resulting forecasts. Customer demand planning is a bottom-up method vs. top down planning. Demand planning’s multi-step operational supply chain management…
Employ a Systematic Approach to Product Management
Product lifecycle management (PLM) involves the task of managing the entire lifecycle of a product from the beginning, through engineering design and manufacturing, to service and disposal of manufactured products. Product lifecycle management can be looked at as a place to store information that affects a product and a means of communication with marketing, manufacturing,…