Top PLM System Software Requirements

Bill of Materials. Having a common source of information across your company is incredibly important during product development. That’s why a bill of materials (BOM) is key to include in your list of product lifecycle management requirements. At the very least, your system should provide a single definition of a particular product and its components. More advanced options include features specifically designed for different team members such as designers, engineers and other professionals who frequently  collaborate.

Computer-Aided Design Management. Managing your CAD activities and documents is more than useful when it comes to PLM. Your solution should be able to manage changes to product configurations while maintaining the functional and physical attributes of a product throughout its lifecycle. Production engineering changes should proliferate throughout your processes, with the changes evident in the subsequent BOMs and plans.

Manufacturing Product Management. During a product’s lifecycle, you want to keep an eye on your portfolio. With portfolio management, users can determine the proper investment balance to maximize their research and development investment returns. Some systems provide strategy tools to spotlight priorities and support planning. Top PLM software can even determine the best possible investment scenario. Users can also track project progress to completion, which is automatically documented in the product record. This allows greater insight into your processes, facilitating better resource management and allocation.

Product Regulation and Governance. Failing to follow regulation and compliance standards is one of the quickest ways to earn your business a bad reputation. But having the right tools built into your product life management system can make staying compliant much easier than it would be otherwise. Your solution should be able to centralize relevant information and documentation, making it easier for enterprise organizations to achieve and maintain compliance.  You also may choose a system that can comply with medical, environmental, safety, FSA and ISO standards depending on your industry.

Project and Component Maintenance. Project management tools are vital for providing users visibility into daily processes and progress. These features include tracking and scheduling capabilities, which enable you to manage product development along with resource allocation in real time. Users can also see upcoming milestones and constraints for further planning.

Quote Process Management. Data from many different sources is often needed during the quote process. PLM’s inherent coordination capabilities gather and organize data pertaining to product design to support your engineering teams. This includes teams developing engineer-to-order and configure-to-order products. The system only shares the necessary data, meaning your team members can spend more time focusing on their work and less on hunting down information.

Risk Management. This feature brings risks to users’ attention, allowing them to manage, report and mitigate those instabilities. Reducing risks early on prevents issues from growing as they move through product development unseen, reducing the overall cost of development. Some systems do this by “detecting” or “highlighting” risks, whereas some systems simply offer full visibility through PM tools.

Workflow and Change Management. Plainly said, this suite of PLM software tools gives users insight into product activities. Users can determine phases for a project, as well as assign milestones to keep projects on track. Some systems allow users to see all pending and implemented changes, as well as all items that endure the subsequent effects. This visibility extends to portfolio and resource management, also.