Skip to main content
LTTS

LTTS

Quick Links mini

  • Search
  • info@LTTS.com
  • English
  • 日本語
  • Israel
  • German
  • Contact
  • Engineering the change
  • Industry
    • Communication
      • 5G
      • SDN/NFV
      • Wireless Networks
      • Wireline Networks
    • Consumer Electronics
      • Consumer IoT
      • Enterprise Devices
      • Personal Devices
    • Healthcare
      • Healthcare Providers
      • Medical Devices
    • Industrial Products
      • Building Solutions
      • Lighting Engineering
      • Power electronics & drives
      • Renewable Energy
      • Test & Measurement
      • Power Generation & Transmission
    • Media & Entertainment
      • Cable & Broadcasting
      • OTT
      • Rdk
      • Set-Top Boxes
      • Smart Home
    • Oil & Gas
      • Digitalization
      • Oil Field Equipment
      • Owners and Operators
    • Plant Engineering
      • CAPEX Project E/EPCM Services
      • Digital Engineering Services
      • Engineering Reapplication & Global Rollouts
      • Integrated Asset Management Services
      • Operational excellence
      • Plant sustenance & management
      • Regulatory compliance engineering
    • Semiconductors
      • IP Core Solutions
    • Software Products
    • Transportation
      • Aerospace
      • Automotive
      • Rail Transportation
      • Travel & Hospitality
      • Trucks & Off-Highway Vehicles
  • Services
    • Digital
      Engineering & Consulting
      • Cybersecure
        • Security Monitoring
        • Security Services
        • Security Solutions
      • Immersive Experiences
      • Industry 4.0
      • Product Consulting
      • Sustainability Engineering
      • 5G
    • Product
      Engineering
      • Digital Engineering
        • Cloud Engineering
        • DevOps
        • Immersive Experiences
        • User Experience
      • Embedded Engineering
        • Embedded Systems
        • Sustenance
        • VLSI
        • Wearables Engineering
      • Mechanical Design
        • CAE & CFD
        • CAx Automation
      • Software Engineering
        • Engineering Analytics
        • Sustenance & Maintenance
        • User Experience Design
        • Voice Innovations
      • Testing & Validation
        • Integrated Design, Validation & Testing
        • Lab as a Service
        • Testing
    • Manufacturing
      Engineering
      • Smart Manufacturing
        • Accelerated Operations
        • Digital Factory & Simulations
        • Plant Design & Engineering
      • Manufacturing & Planning
        • Accelerated Operations
        • Digital Factory & Simulations
        • Line Expansion & Transfer
        • Manufacturing Automation
        • New Product Development
        • Plant Design & Engineering
        • PLM on Cloud
      • Manufacturing Execution
        • Agile Supply Chain
        • Content Engineering
        • Material & Parts Management
        • Sourcing & Procurement
    • Operations
      Engineering
      • Connected Product Support
        • DevOps
      • Supply Chain Engineering
        • Sourcing & Procurement
      • Plant Engineering
        • CAPEX Project E/EPCM Services
        • Operational Excellence
        • Plant Sustenance & Management
        • Material & Parts Management
        • Regulatory Compliance Engineering
  • Solutions
    • AiCEArtificial Intelligence Clinical Evaluation
    • AiKno™ Machine Learning, NLP & Vision Computing
    • AnnotAiAI Based Data Annotation Tool
    • ARC Asset Reliability Centre
    • Avertle®AI Predictive Maintenance Solution
    • CHEST-rAi™ AI Chest X-Ray Radiology Assist Suite
    • Cogmation Device Test Automation Framework
    • Connected Security Integrative Zero Trust Architecture
    • ESM Energy and Sustainability Manager
    • FlyBoard®Advanced Digital Signage Solution
    • i-BEMSIntelligent Building Experience Management
    • nBOnnB-IoT Protocol Stack
    • Semiconductor IP For Security, Communication & Verification
    • UBIQWeise 2.0 Device to Cloud IoT Platform
  • Insights
    • Blogs
      • Embedding Innovation in Semiconductors with Platform Software and Middleware
      • Towards a Connected, Collaborative, & Intuitive Tomorrow: Redefining the Future with a Blink
      • 6 DevOps Trends to Watch Out for in 2023
    • News
      • L&T Technology Services unveils CoE to offer suite of automotive solutions on AWS
      • LTTS Selected as Strategic Engineering Partner to Airbus for Advanced Capabilities and Digital Manufacturing Services
      • LTTS agrees to acquire Smart World & Communication business of L&T
    • POV
      • Hidden Correlations Shaping the Future of European Enterprises
      • From the Super Bowl to 5G
      • Vehicle-to-Everything (V2X) Enabling Smarter, Safer, and Greener Transportation
      • Will 5G Technologies Drive a New Future for Media & Entertainment?
    • eBooks
      • The Art of Cyberwar
      • Digital Twin - The Future of Manufacturing
      • Digitalising Wind Energy Ecosystem
      • INDUSTRY 4.0: The Future Is Now
      • Digital Engineering Explained
      • Sustainability Engineering
  • Explore LTTS
    • About Us
    • Accolades
    • Alliances
    • Analysts
    • Board of Directors
    • Careers
    • CSR
    • Events & Webinars
    • Investors
    • Media Kit
    • Nearshore Centers
    • News & Media
    • Quality Management
    • Resources
    • Sustainability
    • Testimonials
  • Contact
 

Smart Factory

Connected PLM: Transforming Next-Gen Product Development

  1. Home
  2. Blogs
  3. Industry
  4. Connected PLM: Transforming Next-Gen Product Development

Connected PLM: Transforming Next-Gen Product Development

Connected PLM: Transforming Next-Gen Product Development
Published on: 21 Jul, 2017
423 Views
2 comments
Share This Article:
  • Twitter
  • Facebook
  • Linked in
Connected PLM
Digital Engineering
Digital PLM
Industry 4.0
IoT
PLM
Product Lifecycle Management

It is often difficult to comprehend the impact of a revolution while standing amidst it. And, as new disruptive technologies start consolidating, manufacturers without a formal product lifecycle management (PLM) framework will be the first to realize this. The concept of product innovation and development is no longer immune to digital forces. The transformation begins at the base of the value chain and continues throughout the product life cycle. Take modern cars, for example. These rolling computers come with several sensors and digital assistance systems like collision avoidance, intelligent park assist, in-vehicle infotainment, GPS navigation, and much more. While these add-ons promote a superior customer experience, developing software-driven vehicles with complex code structures is invariably a challenge for most manufacturers. And, it is not only automobiles that are mutating into complex connected electronic systems. A recent research report from Gartner says that almost 8.4 billion connected things will be used globally in 2017. The majority of these smart connected things encircling our everyday lives are developed with high-end electrical, mechanical, firmware, and software components. All of this builds up to a connected chaos that requires a unified PLM system to manage product revisions, quality control, and configurations.

Uncovering the Real Potential of Connected PLM

Thanks to the emerging hyper-connected environment, the global PLM market is all set for exponential growth. From $40.26 billion in 2014, revenues are expected to reach a whopping $75.87 billion by 2022 at a compound annual growth rate of 8.1%. Connected devices are already changing the way we communicate with a particular product. With Internet of Things (IoT) data, crucial insights on even the smallest of customer requirements have become readily available, enabling manufacturers to track product performance on a real-time basis. In such circumstances, the deployment of high-end connected technology in an existing PLM solution can help manufacturers with enhanced visibility and traceability of product-specific insights throughout the product lifecycle. Additionally, connected PLM is ushering new possibilities by enabling manufacturers to integrate multiple incongruent systems and gain insights into the product development process. Companies are compiling this data along with the engineering bill of materials (eBOM) and other supporting documents to provide stakeholders with increased visibility on crucial product information. These transformations are opening the door for enterprises to efficiently configure similar products with multiple variations. For instance, a heavy trucks manufacturer paired up with a leading PLM software provider to develop a high-end CAD solution that featured a flagship configurator and database. While the design for the trucks was done by the CAD application, some minor variations in motors for military purposes were implemented by the connected PLM application that served as a minor part of the overall CAD vault. The eBOMs for each of the trucks manufactured were separately created in the database and configurator, while the sub-assemblies were produced by a separate PLM application. Suppliers and customers are emerging as crucial elements in the PLM ecosystem. While suppliers are offering design suggestions, customers are leveraging social networks to provide feedback surrounding the look and feel, functionality, and features of these proposed products. In fact, social media and analytics is gradually tethering the conventional engineering workgroup to the front end of innovation and pushing manufacturing processes to the downstream to prevent quality escalations.

Gearing up for Industry 4.0 to Stay Relevant

As Cloud-based PLM solutions take over their conventional on-premises counterparts, growing at a rate of 17.7% from 2015 to 2022, a more open approach to product development seems necessary. IoT will serve as an inspiration for manufacturers to move their PLM systems to the Cloud to facilitate enhanced interactions between smart devices. Greater visibility and the power to trace a product throughout its entire life cycle will help companies to realize the real value of closed-loop product lifecycle management. This will enable companies to take informed decisions early in the product development process which can significantly curb costs, enhance product quality, and uncover new market opportunities for the company. To champion sustainability and compliance, manufacturers will need to adopt an incremental approach to embracing connected PLM. While for some, these incremental changes may mean connecting product development requirements with their existing PLM framework, for others it may be all about connecting to the real-world performance insights on their smart, connected products. So really, the chances of connected PLM working for you is in your hands. The faster you embark on the digital engineering transformation journey, the faster you will get there.

Authors

Atul Tiwari
Atul Tiwari
Global Horizontal Head, PLM

Related Blogs

Atul Tiwari
The importance of the right blend of engineering and IT in managing PLM, to maximise efficiency of new product development
28 Jan, 2020
Atul Tiwari
Driving PLM Excellence: The Transformative Power of OCM
09 Jun, 2017
Anil Gupta
Virtualizing W.A.G.E.S Management: The Industry 4.0 Approach
07 Jun, 2017
Leave a Comment
About text formats

Comments

 

Juel Rana

Great thinking about the future revolution. Keep it up .
  • Reply
Sat, 10/14/2017 - 20:06
 

Manjunath Rao

Amazing article related to PLM . Thank you for sharing.
  • Reply
Sat, 06/02/2018 - 10:16
View More Comments
View Less Comments
×Explore
  • Industry
  • Spotlight
  • ×
  • Automotive
  • Consumer Electronics
  • Industrial Engineering
  • Lighting & Building Solutions
  • Media & Entertainment
  • Medical Devices
  • Oil & Gas
  • Plant Engineering
  • Power Electronics
  • Renewable Energy
  • Semiconductors
  • Industrial Products
  • Transportation
  • Telecommunications
  • 5G
  • Cloud engineering
  • Cyber security
  • Embedded systems
  • Industry 4.0
  • Smart Manufacturing
  • Smart Products
  • VLSI
  • Sustainability
  • Artificial Intelligence
  • AR/VR
  • Image Processing
  • Connected Healthcare
  • Smart Factory
  • Digital Twins
  • Building Automation
  • Autonomous Transport
  • Robotics
  • Digital Entertainment
  • Machine Learning
  • UI/UX
  • Manufacturing Automation
  • Smart Sourcing
  • Simulation
  • Software Defined Networking
  • Telehealth
  • Wearables
  • Design Thinking
  • IoT Security
  • ER&D Hackathon 2019
  • Digital Media
  • The New Normal
  • Data Mesh
  • DevOps
  • Media
  • parent-company-logo.png
  • Need Help
  • Contact Us
  •  

Contact Us

By clicking Submit, you agree to the Privacy Policy

  • Engineering the change
  • Industry
    • Communication
    • Consumer Electronics
    • Healthcare
    • Industrial Products
    • Media & Entertainment
    • Oil & Gas
    • Plant Engineering
    • Semiconductors
    • Software Products
    • Transportation
  • Services
    • Digital
      • Cybersecure
      • Security Monitoring
      • Security Solutions
      • Security Services
      • Immersive Experiences
      • Industry 4.0
      • Product Consulting
      • Sustainability Engineering
      • 5G
    • Products
      • CAE & CFD
      • CAx Automation
      • Cloud Engineering
      • DevOps
      • Embedded Systems
      • Engineering Analytics
      • Integrated Design, Validation & Testing
      • Lab as a Service
      • Sustenance
      • Testing
      • Testing & Validation
      • User Experience
      • VLSI
      • Voice Innovations
      • Wearables Engineering
    • Manufacturing
      • Accelerated Operations
      • Agile Supply Chain
      • Content Engineering
      • Digital Factory & Simulations
      • Line Expansion & Transfer
      • Manufacturing Automation
      • New Product Development
      • Plant Design & Engineering
      • PLM on Cloud
      • Sourcing & Procurement
    • Operations
      • CAPEX Project E/EPCM Services
      • DevOps
      • Material & Parts Management
      • Operational Excellence
      • Plant Sustenance & Management
      • Regulatory Compliance Engineering
      • Sourcing & Procurement
  • Solutions
    • AiCE
    • AiKno™
    • AnnotAi
    • ARC
    • Avertle®
    • Chest-rAi™
    • Cogmation
    • Connected Security
    • ESM
    • FlyBoard®
    • i-BEMS
    • nBOn
    • Semiconductor IP
    • UBIQWeise 2.0
  • Insights
    • Blogs
    • News
    • POV
    • eBooks
  • Explore LTTS
    • About Us
    • Accolades
    • Alliances
    • Analysts
    • Board of Directors
    • Careers
    • CSR
    • Events & Webinars
    • Investors
    • Media Kit
    • Nearshore Centers
    • News & Media
    • Quality Management
    • Resources
    • Sustainability
    • Testimonials
  •  
  •  
  •  
  •  
  •  
^
  •  
  •  
  •  
  •  
  •  

© 2023 L&T Technology Services Limited. All Rights Reserved.

  • COPYRIGHT & TERMS
  • PRIVACY
  • Site Map
  • info@LTTS.com