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To be successful in today's competitive business environment, an organization needs to align its strategic goals to increase top and bottom line improvements while better responding to customers' changing demands. To make that happen, an enterprise needs to effectively capture, manage, and leverage all intellectual property pertaining to its products. Product Lifecycle Management (PLM) is a prudent business strategy that business needs to adopt to improve product quality and stay successful in the market. By implementing a Product Lifecycle Management (PLM) system, companies can simplify and reduce each phase of the product development process. While a PLM system is implemented to support all engineering processes and address challenges with continual new product introductions, there are often budget restraints. Due to these restrains, quality processes are often managed manually with in-house tools such as Excel spreadsheets. Using PLM as a quality platform can help organizat...

In today's fast-growing, competitive economy, the need to think big, act fast & gain result is more than ever before. Every business aims to gain a competitive advantage by improving its product development - with PLM solutions. Product Lifecycle Management is today's all-encompassing approach for innovation. Besides having matured to become a mission-critical system for successfully driving product development, a PLM system provides the foundation for companies to compete in an innovation environment that constantly demands rapid time to market, multi-company collaboration, high product quality, and a cost- effective product cost. Most of the modern day high-tech manufacturers face top-level business drivers such as short product lifecycles, leading to pressure in meeting the frequently changing consumer tastes. The ability of PLM to optimize the introduction of new product at reduced costs, the ability to eliminate non-value-adding processes, the lowering of queue times ...