Disruptive technologies like artificial intelligence (AI) and Internet of Things (IoT) are weaving a digital thread through manufacturing processes, transforming the industrial landscape, and fostering the rise of “smart factories.” The integration of these technologies is necessitating a shift towards product lifecycle management (PLM) systems that go beyond traditional design, encompassing a product’s entire journey, from conception to after-sales service. In today’s industrial ecosystem, where efficiency and sustainability are critical, mastering PLM is providing a foundation for future growth to proactive companies.
In Frost & Sullivan’s latest industrial software webinar, our growth experts and industry leaders came together to discuss: Leveraging Emerging Megatrends and Innovations in Product Lifecycle Management. The discussion highlighted the swift evolution of the industrial software landscape, centered around PLM. They revealed new growth opportunities and delved into shifting megatrends and ways to mitigate challenges.
The following experts collaborated to generate these transformative perspectives: Tim Löbig, Co-Founder and Managing Director of LOEBIG-ADVISORS; Oleg Shilovitsky, CEO of OpenBOM; Francisco Dellera, Growth Expert and PLM Lead Analyst at Frost & Sullivan; and Sebastián Trolli, Growth Expert, Research Manager and Global Head of Industrial Automation and Software at Frost & Sullivan.
Note: Gain valuable perspectives from the industry experts by clicking here to access the recorded session of the webinar.
Integrating Artificial Intelligence and Machine Learning
The integration of AI and machine learning (ML) into PLM software positions companies not only to operate more efficiently but also to drive continuous innovation, maintain high quality standards, and enhance customer satisfaction. In what ways is your organization harnessing disruptive technologies to implement PLM best practices within your manufacturing processes?
Increasing Flexibility and Ability to Customize
PLM vendors are required to offer highly customizable and flexible solutions to meet the specific requirements of diverse industrial sectors, thereby intensifying competition and pushing vendors to provide more innovative features and better customer support. Is your team utilizing PLM to offer customized solutions and maintain a competitive edge in the evolving industrial software industry?
Integrating PLM Systems into the Cloud
Industrial software is currently integrating PLM systems into the cloud, enhancing scalability, remote access, and global collaboration. This transition reduces infrastructure costs, improves flexibility, and facilitates real-time data collection and analysis from connected devices, optimizing decision-making and operational efficiency. Is your organization leveraging PLM advancements to create a robust growth pipeline?
Enhancing Supply Chain Resilience
Geopolitical chaos is driving the need for robust PLM solutions that can enhance supply chain resilience, manage risks, and ensure compliance with varying international regulations, crucial for maintaining continuity in industrial operations. How is your organization leveraging advanced PLM solutions to bolster its supply chain resilience and drive sustained growth?
Quotes:
“Today, innovation in various segments, including PLM and system integration, is predominantly fueled by larger companies acquiring smaller, younger firms. This trend underscores a broader strategy of market consolidation and scaling capabilities through strategic partnerships.”
- Tim Löbig, Co-Founder and Managing Director of LOEBIG-ADVISORS
“The manufacturing industry faces growing complexities in product diversity, supply chain dynamics, and business model transitions, emphasizing the crucial role of PLM in navigating these challenges effectively.”
- Oleg Shilovitsky, CEO of OpenBOM
“Companies seeking to adapt to today’s challenges and transform their activities will see PLM as their greatest ally.”
- Francisco Dellera, Growth Expert and PLM Lead Analyst at Frost & Sullivan
