Product Lifecycle Management (PLM) is an important aspect of any business, but it is especially crucial for companies that supply Electronic Manufacturing Services (EMS). PLM is the process of managing a product from its conception through its entire lifecycle, including design, development, production, and retirement. By focusing on PLM, EMS suppliers can ensure that their products are aligned with customer needs and that they are able to meet the demands of the market throughout the product’s lifecycle.
Focus on Customer Needs
One of the key benefits of PLM for EMS suppliers is the ability to understand and respond to customer needs at different stages of the product lifecycle. For example, during the development phase, customers may require small clinical volumes of a product, while during the production phase, they may require full commercial volumes. By focusing on PLM, EMS suppliers can ensure that they are able to meet these varying needs and provide the right solutions at the right time.
Flexibility Is Crucial
Another important aspect of PLM for EMS suppliers is the ability to have a flexible supply chain. A flexible supply chain allows suppliers to respond quickly to changes in product demand, which is crucial in today’s rapidly changing market. By focusing on PLM, EMS suppliers can ensure that they are able to adapt to changes in demand and keep their supply chain running smoothly.
Follow the Money
As a product ages in its lifecycle, the ability to trim cost from the product or conduct value engineering can extend the profitable life of a product by changing its cost structure. By focusing on PLM, EMS suppliers can identify opportunities to make cost-saving changes to the product, such as reducing the number of components or using more cost-effective materials, which can extend its profitable life.
Focusing on PLM is essential for EMS suppliers. It allows them to understand and respond to customer needs at different stages of the product lifecycle, have a flexible supply chain, and extend the profitable life of a product by changing its cost structure. By adopting PLM, EMS suppliers can ensure that they are able to meet the demands of the market and remain competitive in today’s rapidly changing market.
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