Representatives from leading high-tech networking and communications, semi-conductor, computer and storage companies, in addition to industry analysts and consultants, attended Hitachi Consulting's Product Lifecycle Management (PLM) Forum in San Jose in late June. Hitachi Consulting Senior Manager Mark Stott discussed PLM best practices and business improvements. Senior Manager Pramod Nambiar presented a PLM case study from a global technology storage company, which used PLM initiatives to create a single, global product release process across business units, while increasing collaboration with global manufacturing sites.
Ray Hein, vice president of product strategy with Agile Software, a leading PLM technology provider, led a separate discussion on key industry trends, including management's current need to focus on innovation and the enhanced capabilities of PLM technology solutions.
Attendees also learned how PLM solutions are helping high tech companies achieve significant, measurable results, including:
-- 35 percent reduction in product cycle times
-- 50-90 percent reduction in engineering change order cycle times
-- 25 percent increase in product revenues.
According to Tim Vaio, Hitachi Consulting vice president of Supply Chain Solutions, PLM is a crucial function for technology companies because it helps optimize product development and innovation, improve operational efficiencies and focus on evolving customer and market needs.
"PLM provides the ability to drive business objectives by improving performance at both the top line and bottom line, and is therefore being deployed as a strategic initiative by companies seeking to improve their competitive advantage," said Vaio. "Improving business processes around new product development and introduction is a key challenge being faced by companies trying to gain market share by driving product innovation and beating the competition to market launch."
Suzanna Musick, business development vice president and enterprise technology specialist of the Hitachi Consulting San Francisco office, said last week's PLM forum is part of an ongoing effort to engage industry leaders on critical business issues. "Working through the tough issues of today and planning for the future is a delicate balancing act for all companies, no matter what their size and focus. Our clients' success is our top priority and this forum is one example of how we share leading knowledge across our region," Musick said.
About Hitachi Consulting
As Hitachi, Ltd.'s (NYSE: HIT) global consulting company, Hitachi Consulting is a recognized leader in delivering proven business and IT solutions to Global 2000 companies across many industries. We leverage decades of business process, vertical industry, and leading-edge technology experience to understand each company's unique business needs. From business strategy development through application deployment, our consultants are committed to helping clients quickly realize measurable business value and achieve sustainable ROI.
Hitachi Consulting's client base includes nearly 30 percent of the Fortune 100 as well as many leading mid-market companies. We offer a client-focused, collaborative approach and transfer knowledge throughout each engagement. For more information, call 1-877-664-0010 or visit www.hitachiconsulting.com.
Hitachi Consulting -- Inspiring your next success!(R)
Hitachi, Ltd. (NYSE: HIT), headquartered in Tokyo, Japan, is a leading global electronics company, with approximately 347,000 employees worldwide. Fiscal 2004 (ended March 31, 2005) consolidated sales totaled 9,027.0 billion yen ($84.4 billion). The company offers a wide range of systems, products and services in market sectors including information systems, electronic devices, power and industrial systems, consumer products, materials and financial services. For more information on Hitachi, please visit the company's Web site at http://www.hitachi.com.
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