The Costly Conundrum of PLM Tools: Why Industry Knowledge is Key to Cost-Cutting Measures (Clone)

PLM or Product Lifecycle Management tools have become a valuable asset for OEMs in the manufacturing industry. However, implementing and using these tools are often plagued by a need for more industry knowledge, leading to inefficient software development and costly mistakes. Manufacturing executives often need to pay more attention to the complexity and incompletion of PLM tools, leading to reckless cost-cutting measures by consultants. In this blog post, we will explore the importance of industry knowledge in PLM tools and how an innovative, interactive part history library can save millions of dollars in reworks, recalls, and expensive consultants.

1. Understanding the Value of Industry Knowledge
OEMs constantly face the challenge of adapting and innovating to meet the changing market demands. Thus, the nature of PLM tools requires a deep understanding of the industry, the product, and the customers. Designers and engineers working on PLM tools must have extensive knowledge of the product's parts, function, and lifecycle. A lack of industry knowledge leads to incomplete tools, inaccurate representation of parts, increased error rates, and costly mistakes. Therefore, an investment in educating employees and software developers in industry knowledge is essential.

2. The Consequences of Incomplete PLM Tools
Incomplete PLM tools have significant consequences, including obsolescence, reworks, and recalls. When a part becomes obsolete, it is no longer available for use; hence, a redesign is necessary. When a part is duplicated for no reason, this can also cause a significant increase in B.O.M. cost. This can lead to recalls and reworks to fix the issue, resulting in substantial financial costs to the company. In a worst-case scenario, a failure results in damage to the company's reputation and loss of customers. These consequences are avoidable with a well-designed, interactive part history library that captures information about each part and is accessible to all designers and engineers in an educational, easy-to-use way.

3. Reckless Cost-Cutting Measures
The cost of PLM tools can be expensive; however, consultants offering reckless cost-cutting measures can end up costing the company more. The lack of industry knowledge among consultants can lead to misplaced recommendations that fail to address the root cause of a problem. Instead, they opt for cost-cutting measures such as reducing the workforce, limiting experimentation, outsourcing manufacturing, or using cheaper products. These shortcuts can result in lower product quality, increased errors, and customer dissatisfaction. A better solution is to capture the history of every part, from the torque testing to where it does and doesn't work across your programs.  

4. The Importance of a Smart, Interactive Part of History Library
An intelligent, interactive part history library is an innovative solution that can save OEMs millions of dollars by avoiding obsolescence, reworks, and recalls. The library captures information about each part's lifecycle, such as its origin, material, applications, and testing/validation history. It allows designers and engineers to access accurate information and track each part's history, making identifying and resolving issues before they become costly mistakes easier. An intelligent, interactive part history library is also an excellent tool for educating designers, buyers, and maintenance on the product, the industry, and the company's goals as a whole.

In conclusion, a company's most valuable asset is its earned knowledge and experience.  A part search shouldn't just be product codes and cost information.   If you capture why the part was used, how often it was used, where not to use it, and more, you will run circles around your competition and bring your costs down exponentially.  

Implementing and using PLM tools requires industry knowledge, and an investment in educating employees and tiers is essential. Incomplete PLM tools lead to costly mistakes such as obsolescence, reworks, and recalls. Furthermore, reckless cost-cutting measures consultants promote can result in lower product quality and increased errors. A more innovative approach is to invest in a smart, interactive part history library that captures information about each part, making it easier to identify and resolve issues before they become costly mistakes. Ultimately, industry knowledge, proper training, and an innovative part history library are essential to reducing costs and improving product quality in the manufacturing industry.