The report identifies that electronics manufacturers are challenged with developing more complex products in less time. In addition, they are doing this with product development teams dispersed around the globe. Best-in-class are overcoming these challenges by utilizing PLM to automate manual processes and create a central location to track and manage product information to support better design practices.
Specifically, report findings show that best-in-class companies are:
-- 2.1 times as likely as industry average companies to capture and reuse product development knowledge. -- 2.2 times as likely to have formalized change processes within design engineering. -- 2.5 times as likely as industry average to integrate their product development data into their business processes. -- 2.6 times as likely as laggard companies to have centralized their product data. -- 2.8 times as likely as all others to have developed formal metrics to measure their product development process.
"The ability of companies that are best-in-class at managing their data gives them a significant competitive advantage over the rest of the industry," stated Ric Stanley, Research Analyst in Aberdeen's Product Innovation and Engineering practice and report author. "They are setting themselves apart by implementing a central data repository for storing all current data for ease of access by the entire product development team."
"As stated in the report, electronics manufacturers are indeed faced with the difficulty of developing extremely complex products, in less time, cost effectively," said Chuck Cimalore, CTO for Omnify Software. "PLM technology helps electronics customers overcome these challenges by streamlining communication of product data across the enterprise and eliminating inaccuracies due to manual change processes. Our PLM customers are able to achieve best-in-class operations resulting in improved design processes, shorter development cycles, and reduced product costs."
The report, titled "PLM in Electronics: Turning Product into Profits," is available for download here ( http://www.aberdeen.com/link/sponsor.asp?spid=30410639&cid=4101).
About Omnify Software
Omnify Software, a leading provider of business-ready Product Lifecycle Management (PLM) solutions, helps OEMs streamline development cycles, accelerate product innovation and improve bottom-line profitability. Omnify's commitment to customer success has resulted in a solution that is easy to use, quick to implement and provides an open integration platform. Omnify prides itself on superior customer service, delivering outstanding training, development and support with a team of experienced technology professionals. Omnify is acknowledged as an industry leader, winning such honors as MBT Magazine's Top 40 Emerging Vendors, START-IT Magazine's Hottest Companies for two consecutive years, as well as the magazine's Technology and Business Vision and Power of Partnerships awards. For additional product information, including pricing, please call 978-988-3800, email Email Contact or visit www.omnifysoft.com.
"Omnify" is a registered trademark of Omnify Software. Any trade, product or service name referenced in this document using the name "Omnify" is a trademark and/or property of Omnify Software. All other trade, product, or service names referenced in this release may be Trademarks or registered trademarks of their respective holders.
Media Contact: Alaine Portnoy Omnify Software Email Contact (978)-988-3800 Valerie Harding Ripple Effect Communications Email Contact (617)-536-8887