Product / Portfolio Lifecycle Management (PLM)
Definition: PLM includes physical, tangible and intangible products, services, programs or solutions. In SMB Value Partners’ terms, the VALUE OFFERING a company provides to their customers.
The significance of product lifecycle management (PLM) is increasing. Product lifecycles are shortening while, at the same time, new products must be delivered to market more quickly than ever before. SMB Value Partners’ clients are facing the challenges of more demanding competition, ever-shortening product lifecycles, and growing customer needs. New, better and more flexible products must be introduced into markets more quickly, generating incremental revenue, greater profits and reduced operating costs. The competitive landscape is forcing our clients to perform better. But, in order to perform better, companies must be able to make informed decisions concerning the lifecycle of each product in their portfolio. New products must be introduced into the market quickly, and poor performing products must be removed from the market. To do this well, companies must have a very good idea of the lifecycle of each product. SMB Value Partners helps our clients develop and execute a comprehensive product strategy which positions them well for competitive advantage. We ensure our client’s product management strategy follows the strategic framework of their business strategy by implementing PLM as a tool for carrying out the strategic goals of the company. |
|