Essay: Advantages of Product Lifecycle Management

Essay: Advantages of Product Lifecycle Management
April 23, 2011 Comments Off on Essay: Advantages of Product Lifecycle Management Academic Papers on Business Studies,Sample Academic Papers admin

Sample Essay

This essay discusses advantages of product lifecycle management.

In one way or the other companies have performed the PLC, and in this regards there are different approaches which were used like for instance product portfolio management (PPM), Design Management (CM), Evoking of product, Customer Service Management, Product Assurance , and Modification Management (Capgemini, 2007).

One of the biggest advantages of PLC is that it has increased the level of communication between the departments. Previously what happened was that due to lack of proper communication between the departments information was lost or misunderstood or ignored. Because of this deficiency of information the possible threat was not being identified and decisions were made on the basis of assumptions. The consequences of this deadlock resulted in an increase in cost; more time consumed which eventually means that the company was legging behind in fulfilling the customer’s requirement. Late arrivals in the market, poor quality, product recalls, and deficient customer services became common issues (Miller, 2007).

To get rid of all these issues the perfect solution is the Product Lifecycle Management (PLM) which aims towards the better management of the corporate assets. A typical Product Lifecycle Management (PLM) system helps in making a communication channel between different process systems.  It allows grater visibility in terms of what the product is going through in its current phase. If any rectification is required then the process is stopped then and their so that correction is made (Capgemini, 2007).

Justifying Product Lifecycle Management (PLM) On Cost:

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