LCSIS Return on Investment
In today's very competitive global manufacturing environments, those enterprises that have adopted PLM/PDM solutions like Visible's LCSIS are moving to the forefront of product innovation and product development.
According to a recent article in “Managing Information” those who've had PDM up and running for six months or longer are beginning to report dramatic improvements to their product development processes and operational cost reductions. Early adopters of PDM like Lockheed Martin, DELCO, and IBM have reported benefits including:
Getting products to market faster
Better management and control of Intellectual Property (IP)
Builds on your competitive advantage
Helps with regulatory compliance including Sarbanes-Oxley
Better audit trails
Better management of contractors and supplier relationships
Reduced software licensing and IT support costs
Reduced product administration costs
Major savings in administrative expenses
Better customer service
While progress on formulating a hard ROI case for PDM and other elements of PLM is being made, many companies are still coming up short. After making the initial rationale for PDM, many manufacturers neglect to do rigorous follow-on justifications after the pilot implementations. Surveys conducted by IBM's Product Lifecycle Management group, for example, reveal that 93% of its customers are neglecting to measure benefits after the purchase of their systems.
By using Visible Systems LCSIS process metrics in an on-going evaluation of an enterprise's data management activities, ROI is more easily measured and reported.