After years of fielding questions about PLM, I realized that the PLM industry is still burdened by rather common myths. I have made a list of my top three PLM myths and the reasons why they're not true.
Myth #1: PLM has a standard definition.
A common and easy way to define PLM is as the management of a product's lifecycle. While that's great and all, it really doesn't get you anywhere. Companies should understand that the wide range of PLM definitions is out there because like snowflakes, butterflies and people, no two PLM users – or their companies - are identical. Because no two companies are the same, no two PLM solutions will be exactly alike.
They can be similar, which can make identifying the right choice difficult, but they're never the same. To further complicate matters, PLM solutions become even more diverse when add-ons are included and customization comes into play.
Myth #2: Out-of-the-box (OOTB) PLM will work for me.
One of the biggest mistakes made during implementation is thinking that an OOTB set-up will work for your company. Maintaining an OOTB solution means having to adjust the way you do business to match the way a generic piece of software thinks you should do it. The unique way you do business is what sets you apart from your competition. If everyone did the business the same way, what would happen to competitive differentiation? In the end, it's going to cost you in dollars, efficiency and, quite possibly, in your competitive edge.
Myth #3: PLM is only an engineering tool.
PLM is not another extension of engineering and design tools; it's much more than that. PLM extends beyond the development and engineering of a product to before engineers are even involved in the processes. It manages the product throughout its entire lifecycle from the conceptual phase to the moment the product is retired. Most importantly, PLM doesn't just manage the technical design, it offers a rich view of the product, including the processes behind it and the projects required to bring it to market. PLM takes a very broad approach to managing the product development process while still allowing for even the minutest details to be monitored.
There are many more myths out there about PLM and the industry and I'm sure everyone has their own version of the "top three." Tell us yours [email protected] or in the comments.