March 29, 2012

Product Lifecycle Management Helps Businesses Go Lean

This Epicor blog post examines a few ways manufacturers can reduce paper-based processes for leaner operations, including electronic processes for bringing products to market and managing product changes. The post states that using paper-less technologies, such as Product Lifecycle Management (PLM) systems, to support these processes can enable faster, more efficient product innovation.

Manufacturers can further augment the benefits by utilizing the best practice document published by the IDEA Industry Standards Committee (ISC), “Product Life Cycle Management Benefit Analysis.” The analysis breaks down the purpose, common problems, recommended solutions and benefits of each item status code in the Industry Data Warehouse (IDW). An item status code can be used to communicate the current life cycle “state” of any given product. The progression of a product life cycle begins with new items communicated as “Active” and for sale, through “Planned Obsolescence”,“Obsolete”, and finally “Deletion”. Manufacturers can utilize these guidelines to improve the quality of product data shared between trading partners and, as a result, benefit from lower operating costs, superior service and increased sales opportunities.

Download IDEA’s Product Lifecycle Management Benefit Analysis>

Find out more about IDEA’s Standards Resources>