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April 23, 2019
CIMdata has finalized its annual status and trends research related to the global product lifecycle management (PLM) economy.
The goal of the research was to further the PLM community's collective understanding of the status, drivers and preconditions necessary for companies to derive value from their investment in PLM enabling solutions, CIMdata reports. A web-based survey was developed and distributed to identify the key issues.
Significant findings show that:
- The majority of respondents identified that they have more than one commercially available PLM solution operating in their company.
- Current implementations heavily focus on the “traditional” product data management aspects of PLM.
- There is a heavy emphasis on business process enablement.
- The business objectives for future PLM implementations have significant focus on getting faster, better, cheaper.
- Compared to 2018 results there has been a shift somewhat away from Global Programs to Technology Simplification.
- Over the next two years 64% of respondents said that they plan to increase the amount budgeted for PLM spend.
- The use of the term “PLM” might have worn out its welcome.
“Many of the research findings are heavily weighted towards the traditional aspects of PLM, which is consistent with CIMdata's experience with its industrial clients,” says Peter Bilello, CIMdata's president, “Survey responses indicate that industrial companies find PLM to be worth the investment and that PLM budget trends show a continued investment in the near term. The major challenges facing users going forward are the confusion surrounding the overlapping processes and functions of enterprise systems (e.g., PLM, ERP, and MES), the lack of understanding around PLM payback opportunities, and cultural issues.”
On Thursday, May 9, CIMdata will host a webinar on this research. Click here to learn more about the webinar.
Sources: Press materials received from the company and additional information gleaned from the company’s website.