Dear All,
I am thrilled to inform you that we have now reached the 50th Edition of our Newsletter PLM ROI.
The mission which started 16 months back is now guiding more than 4000 Subscribers in their PLM World.
We have surely come a long way. Many thanks for your support, feedback and encouragement during the last 16 months.
PLM ROI will continue to be your trusted source for insights and strategies that will empower you to leverage your Product Lifecycle Management (PLM) investments to the fullest.
This 50th edition is really a special one for us!
On this special occasion, let’s look and summarize why we started this and what insights have we gathered about PLM.
We started this newsletter with a mission to cover the following key areas:
- Buying the Right PLM Suite
- Choosing the Right PLM Partner
- Choosing the Right PLM Solution
- Building the Right Team with the Right Skill Sets
- Building the Right Infrastructure
- Actual Execution of PLM Implementation/Migration/Upgrade Projects
- Subsequent PLM Adoption
- The Ultimate ROI Analysis at each and every step
We have covered all the above areas over the last 16 months and in this edition, let’s summarize top insights from them.
Note – Each of the insights below are linked to the respective edition for more details.
Top 21 PLM Insights from 50 Editions :
1. Work on Top fears associated with PLM :
- Having Improper Knowledge about PLM,
- Overselling by Service Providers
- Implementation Issues
- Adoption Issues
- Business/Organizational/Strategic Challenges
- Ever-Changing PLM Technology and Business Landscape
Click here to check this edition for more details.
2. Why PLM : Do you really need PLM software?
- Determining whether your organization truly needs PLM software is a multifaceted decision that depends on the interplay of factors such as product complexity, technology integration, business operations, and regulatory requirements. While PLM can offer substantial benefits in managing complexity and streamlining processes, it may not be a one-size-fits-all solution.
- Careful evaluation of your unique circumstances, needs, and long-term goals is essential in making an informed decision about whether PLM is a necessary investment for your business.
Click here to check this edition for more details.
3. PLM Selection: What to look for in PLM Software
- By thoroughly defining your objectives, evaluating integration capabilities, considering scalability and flexibility, prioritizing usability, and assessing support for collaboration, workflow management, data management, compliance, reporting, and analytics, you can make an informed choice.
- Remember to factor in the reputation of the vendor and the total cost of ownership to ensure that the chosen PLM solution aligns with your organization’s goals and delivers a compelling return on investment.
Click here to check this edition for more details.
4. PLM Customizations can be a Trap :
- When organizations invest in PLM software, they often look to tailor the system to fit their specific processes, needs, and preferences. While some level of customization is indeed necessary to ensure that the PLM system aligns with your organization’s unique requirements, excessive customizations can become a double-edged sword.
Click here to check this edition for more details.
5. Avoid OutSourcing PLM to Generic IT Experts – RightSource PLM Work only to PLM Experts
- In niche areas like PLM, you must be outsourcing to niche experts who are specialists in the field. The drawbacks of outsourcing PLM work to generic IT service providers, can hinder your organization’s progress and compromise the quality of work.
Click here to check this edition for more details.
6. Top reason why PLM Implementations Fail : Poor Adoption
- One of the most common reasons for PLM implementation failures is poor adoption within the organization. Even the most robust PLM system is ineffective if it is not embraced and used effectively by employees.
- At the heart of any PLM implementation lies its adoption. Without user buy-in and utilization, even the most sophisticated PLM system will fail to deliver its intended benefits.
Click here to check this edition for more details.
7. Avoid the trap of ‘Living with the problem’: Change the PLM Service Provider whenever required but do it gradually
- While there might be valid reasons for companies to continue with their existing service providers, it’s essential for organizations to periodically assess their partnerships, consider emerging technologies and market trends, and ensure that their current providers align with their evolving business needs and goals.
- One quick hack to tackle this issue of ‘Living with the problem’ is to ‘Start Small’ with the new service provider. Start with small projects or tasks. You can not change the whole game at one go, but by creating healthy competition among multiple vendors, you can reduce the risk and take that one step ahead and start the process from ‘Living with the problem’ to ‘Leaving the problem’.
Click here to check this edition for more details.
8. AI in PLM
- In the new PLM world with AI, Large Language Models (LLMs) will become the Large Drawing Models (LDMs). Natural Language Processing (NLP) will evolve into Natural Drawing Processing.
- Any AI improvement PLM will lead to High Value Savings compared to the same in Non Engineering simply because : On an average, the impact of PLM related escalations can be substantial, affecting product development timelines, quality, and overall project success compared to Non Engineering issues which pertain to administrative, operational, or procedural matters faced by the organizations.
- Although AI can help PLM but it will also come with its own cons such as privacy concerns, safety considerations etc. Organizations can unlock the true potential of AI in PLM by adopting a phased and strategic implementation approach..Some low risk starting points can be e.g.
⬩ Initiating AI implementation on non-critical components,
⬩ Implementing AI in peripheral functions, such as planning in design (design iterations), manufacturing, customer support, and maintenance
⬩ Employing AI in the search and reuse of different part numbers and their corresponding drawings
⬩ Automation of Change Management for Non-Critical Components
Click here to check this edition for more details.
9. The entry of Cloud-Based PLM
- The cloud-based PLM solutions are suddenly looking possible after 2023, driven by the need for increased flexibility, scalability, and remote collaboration capabilities. In 2023, organizations recognized the advantages of cloud in supporting distributed teams, providing real-time access to data, and ensuring seamless collaboration across geographies. The impact of the same on PLM world will be interesting to see.
- While on-premise solutions offer control and customization, cloud-based PLM solutions provide cost-effective scalability, accessibility, and collaboration. The ongoing advancements in cloud security and the potential for improved data protection make the cloud an increasingly attractive option.
Click here to check this edition for more details.
10. Find out, How effective is your existing PLM Implementation.
Click here and assess your organization for 10 important PLM Effectiveness KPIs.
11. PLM Project Management : Universal Truth
- Right People at Right Place at the Right Time with Right Skills, Right Tools and Right Targets is important for any project to be successful.
Click here to check this edition for more details.
12. PLM will not help without Integration with other systems
- In today’s complex digital world, standalone software solutions are no longer sufficient to meet the evolving needs of organizations. To remain competitive and agile, businesses must embrace integration as a fundamental aspect of their IT strategy.
- By integrating PLM with other critical systems such as CAD, ERP, ALM, MES, and CRM, organizations can achieve greater efficiency, collaboration, and innovation throughout the product life cycle.
Click here to check this edition for more details.
13. PLM Service Provider Assessment : Is it time to change your vendor?
- Click here and find out the effectiveness of your existing PLM Service Provider and decide whether you need to change your existing PLM Service Provider or not.
14. Checklist to Make a Business Proposal to the Management
- At the heart of any successful proposal lies three main things :
⬩ Ability to address legacy systems,
⬩ Highlight potential benefits, and
⬩ Navigate the intricacies of change management.
Click here to check this edition for more details.
15. How to Build a Great Career in PLM
- At the core of a successful PLM career lie three main skills: Engineering Aptitude, Process Understanding, and Soft Skills
Click here to check this edition for more details.
16. How to Measure ROI : A Comprehensive Guide
- Understanding ROI involves more than just a simple formula; it requires recognizing both measurable and non-measurable returns.
⬩ Measurable returns are the tangible, quantifiable benefits that can be directly attributed to a project. These returns are typically financial and can be easily calculated.
⬩ Non-measurable returns, while not directly quantifiable, significantly impact the overall success and sustainability of a project.
- Common pitfalls in ROI calculation include ignoring indirect benefits, overlooking maintenance costs, failing to consider the time value of money, neglecting ‘Input’ related metrics, using incorrect data, failing to define clear objectives, and overlooking long-term benefits.
Click here to check this edition for more details.
17. Digital Twins and the Future of PLM
- Digital twins offer a comprehensive, dynamic approach to managing the entire product lifecycle. By harnessing the power of real-time data and advanced simulations, organizations can make more informed decisions, optimize processes, and deliver superior products to market. The future of PLM lies in the successful integration of digital twins, marking a new era of efficiency, innovation, and customer-centricity in product management.
Click here to check this edition for more details.
18.Integration with Industry 5.0
- PLM systems are nowadays aligning more closely with Industry 5.0 initiatives. The integration of PLM with technologies such as IoT, robotics, and additive manufacturing enabled smarter and more efficient production processes. Real-time data from IoT sensors fed directly into PLM systems, creating a continuous feedback loop between product design and manufacturing. This integration allowed organizations to respond quickly to changes and optimize their operations.
Click here to check this edition for more details.
19. A New Shift from Cost Arbitrage to Skills Arbitrage in 2025 : New Role of GCCs and ODCs
- The shift from cost arbitrage to skills arbitrage marks a defining moment for global manufacturers in 2025.
- In this new paradigm, GCCs emerge as the cornerstone of innovation, driving transformative value through specialized talent and strategic alignment. However, the relevance of ODCs cannot be understated. Their ability to manage repeatable processes and provide scalable support makes them indispensable partners to GCCs.
- In summary, GCCs and ODCs are now driving a critical shift from cost arbitrage to skills arbitrage, reflecting the growing demand for specialized expertise and innovation-driven outcomes.
Click here to check this edition for more details.
20. PLM Costs & PLM ROI : Common Costs Related to PLM Implementation and how to measure PLM ROI
- PLM implementation involves various cost components, which can be categorized as one-time General expenses, one-time Capital investments, and Recurring costs.
- ROI from PLM can be measured across different dimensions, including financial gains, operational efficiency, and strategic advantages.
- Tomaximize the value of PLM, organizations should adopt a comprehensive plan that balances Short-term ROI, Medium-term ROI and Long-term ROI.
Click here to check this edition for more details.
21. ODC 2.0 : Unlocking the Potential of Offshore Development Centers
- Offshore Development Centers (ODCs) have long been recognized for their ability to provide cost-effective solutions, access to global talent, and enhanced scalability. However, their potential as catalysts for innovation is often overlooked.
- Collaborative models have the power to redefine the role of Offshore Development Centers, transforming them into engines of innovation and growth.
- Key Collaborative Models are : Integrated R&D Hubs, Agile Co-Creation, Centers of Excellence (CoEs), Open Innovation Partnerships and Innovation-as-a-Service (IaaS)
- In doing so, ODCs can transcend their traditional roles, becoming strategic enablers of innovation and long-term success.
Click here to check this edition for more details.
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For Corporates :
MechiSpike can be of great help to your organization to help you improve your PLM ROI and 30% Savings, be it the hiring cost in staffing or setting up an ODC.
We do this with efficient planning, organizing and controlling Product Master data with seamless data exchange among Engineering, Manufacturing and Enterprise systems.
Why MechiSpike :
Niche Expertise in Engineering & IT
Our Speed of Hiring, Cost Optimized Solutions and Global Presence.
RightSourcing is ‘Better Outsourcing’, given to ‘NICHE EXPERTS’.
Click here to know how we can actually help you with our Proven Methodologies.
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For PLM Careers :
Learn More | Earn More | Grow More
Interactive UI : Every Application will get a response with a recruiter contact details and the applicant will get a notification at each phase until the applicant is positioned well with our 15+ global clients in India, USA & Germany.
Candidate Referral Program : Refer a candidate and earn INR 25,000.
Mechispike Solutions Pvt Ltd is a PLM focused company, having all kinds of PLM projects to enable employee career growth and add value to clients. We can position you better with our 15+ global clients in India, USA & Germany.
We believe in “Grow Together” and “Employee First” culture.
Dream more than a Job. Grow your PLM Career to the Fullest with MechiSpike
Click Here to explore our Job Openings.
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PLM ROI Newsletter will guide you through a comprehensive roadmap to help you unlock the full potential of your PLM investment.
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To your PLM success!
Warm regards,
Visit Us: www.mechispike.com
