IDC PlanScape: Building the Product Innovation Platform
This IDC PlanScape report lays the foundation for manufacturers looking to mature their product life-cycle management (PLM) process to the next step. The product innovation platform's time has come: the evolution of PLM to the point where it connects with other enterprise data to enhance innovation has been discussed for years, but there were no real overriding factors driving this evolution forward. Now, with enormously complex, connected, and smarter products, the need for systems engineering and digital manufacturing and hyperdynamic customer demand, the time is right for an approach to product life-cycle management that truly leverages all demand, supply, and manufacturing information to optimize products and processes.
"The product innovation platform provides the open, inclusive decision-making environment required to achieve that perfect balance of vitality and stability. Not only can you have your finger on the pulse of customer demand with this architecture in place, but you can also have the existing set of product and institutional knowledge built up over the years to draw from. Instead of individual groups making disparate decisions based on the same data, decisions can be made collaboratively across product development team discipline: engineering, marketing, sales, supply chain, manufacturing, and service," said Jeff Hojlo, program director, Product Innovation Strategies at IDC Manufacturing Insights. "Manufacturers cannot achieve this necessary wide view with a PLM system that is only utilized by design and engineering. IDC Manufacturing Insights anticipates that with the product innovation platform, new product launch success rates will improve, speed to market and service response rates will increase, and customer satisfaction rates will improve."
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