PLM Statistics


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Plm Statistics 2023: Facts about Plm outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Plm, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

How much of an impact will Plm Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

Please read the page carefully and don’t miss any words.

On this page, you’ll learn about the following:

Top Plm Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 10 Plm Statistics on this page 🙂

Plm “Latest” Statistics

  • Even though aerospace, automotive, high-tech, and industrial equipment still make up about 80% of the market, other industries, like retail and consumer goods, can benefit from using a lifecycle approach to product management.[1]
  • According to Quadrant, the PLM industry accounts for 3.1% of the market and is anticipated to expand by approximately 7% annually.[1]
  • The following statistic was revealed by research that was carried out by the Tufts Center for Drug Development and was last updated in 2016. It costs an average of $2,6 billion to bring a new drug to market.[1]
  • The following statistic was revealed by research conducted by the Tufts Center for Drug Development and last updated in 2016: only 12% of new drugs make it through clinical trials.[1]
  • A survey by Jos Voskuil found that 35% of respondents did not have PLM as their primary job objective, while 65% of respondents were PLM consultants.[2]
  • The majority of PLM consultants (30%) either work for a service company that implements multiple PLM solutions or for a software vendor (43%).[2]
  • There are still a lot of PLM consultants with a focus on business strategy (20%) and change management (8%) as their specialties.[2]
  • 86 percent of respondents said that PLM is a journey, while 3 percent said that it should be considered a program.[2]
  • More than 60% of respondents have worked in PLM consulting for more than 8 years.[2]
  • Only 14% of respondents have less than three years of PLM experience.[2]

Also Read

How Useful is PLM

On the surface, PLM seems like an essential tool for any organization looking to streamline their product development process and improve collaboration across departments. By centralizing product information, documentation, and workflows in a single platform, PLM systems offer businesses the ability to track every stage of a product’s lifecycle, ensuring better communication and visibility throughout the organization.

One of the key benefits of PLM is its ability to reduce time-to-market for products. By providing real-time visibility into the product development process, organizations can identify bottlenecks, streamline workflows, and make informed decisions that can accelerate the pace of innovation. This agility can be a game-changer in today’s fast-paced business landscape, where being the first to market can often mean the difference between success and failure.

PLM also holds promise for improving product quality. With robust change management capabilities and configurable workflows, organizations can ensure that products meet regulatory requirements, industry standards, and customer expectations. By allowing teams to collaborate and coordinate effectively, PLM systems can help identify and address quality issues early in the development process, ultimately leading to higher-quality products and increased customer satisfaction.

Additionally, PLM can enable organizations to maximize the value of their intellectual property (IP) by providing a centralized repository for all product-related data. This can be especially valuable for companies with complex, multi-disciplinary products that require input from various teams and stakeholders. Having a single source of truth for product information can improve data accuracy, reduce errors, and streamline collaboration, ultimately leading to more innovative and competitive products.

However, while PLM offers clear benefits, its usefulness ultimately depends on how well it is implemented and adopted within an organization. Simply having a PLM system in place is not enough – organizations must also invest in training, change management, and ongoing support to ensure that employees understand how to effectively utilize the platform and integrate it into their daily workflows.

Furthermore, PLMs can be complex and expensive to implement, making it a significant investment for many organizations. As such, it is important for businesses to carefully evaluate their needs and priorities before investing in a PLM system, to ensure that they are getting the most value for their money and that the system aligns with their long-term goals and objectives.

In conclusion, while PLM offers significant benefits in terms of efficiency, collaboration, and quality, its usefulness ultimately depends on how it is implemented, adopted, and integrated within an organization. By carefully evaluating their needs, investing in training and support, and aligning PLM initiatives with strategic objectives, companies can unlock the full potential of PLM and realize the benefits of improved product lifecycle management.

Reference

  1. openlm – https://openlm.com/blog/benefiting-from-plm-in-the-pharmaceutical-industry/
  2. virtualdutchman – https://virtualdutchman.com/2013/07/06/plm-statisticsthe-result/

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