Smart, Connected Products and PLM: The Future is Here
Product lifecycle management is embarking on an era of unprecedented opportunity. Traditionally, PLM only manages the data, artifacts, and processes related to products and systems up until the time they leave the showroom floor. Once a product is handed off to a customer, PLM’s knowledge is in the dark, until now! The Internet of Things (IoT) is poised to deliver a flood of information from smart, connected products in the field. This significant new understanding of actual product use, operating conditions, performance, and quality has the potential to dramatically improve product development. Tracking usage data can help product management fine-tune offerings to better meet customers’ needs. Over-engineered or underperforming parts can be identified and redesigned to ensure both performance and value. And detailed information about operating conditions during a failure can speed quality and safety improvements. A company’s ability to leverage these new opportunities is reliant on technology that can access and analyze the data streaming back from smart, connected products and communicate key information throughout the product lifecycle processes, technology, and stakeholders that need it most. And PTC is working on just that: enhancing its PLM solutions to help companies realize the unprecedented value that the Internet of Things (IoT) can bring to product development.