Discrete product companies are under pressure to commercialize new products faster while lowering capital expenses. Their focus is on growth & market opportunities, always looking for ways to increase the sales volume of their product and their profit margin.
Companies are meeting this challenge by focusing on specific core competencies and partnering for product design, product engineering and product manufacturing.
They are also re-examining their product operation processes to improve efficiency and effectiveness.
This environment is creating a strong need for sharing of accurate product information both within the enterprise as well as throughout the extended supply chain.
Areas that are of serious concern to such companies are:
- Tracking of design revisions, product structure and BOM changes and synchronization of product information like product specifications, design specifications, analysis results etc. throughout the product development process
- Sharing of accurate product information with design, engineering and manufacturing partners
- Managing the life-cycle of products from idea to obsolescence
- Managing and tracking changes throughout the product life cycle