Product category:
Production Services
News Release from: PTC - Parametric Technology (UK) | Subject: PTC Value Roadmap
Edited by the Engineeringtalk Editorial
Team on 02 April 2007
System gets the most out of a limited
tech budget
PTC's new process framework helps users understand the link between product development process improvements, PLM technology investments, and business value.
PTC has released a comprehensive process framework that consists of industry-specific product development process landscapes The intent of this framework is to help discrete manufacturers in multiple industries understand the link between product development process improvements, PLM technology investments, and business value
This article was originally published on Engineeringtalk on 13 Mar 2002 at 8.00am (UK)
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One of the most daunting challenges for a product development organisation today is how to achieve the maximum benefit from its limited technology budget.
This is especially true for organisations in highly competitive and highly regulated industries that have intense pressure on cost reduction, time to market, and compliance.
Further complicating this equation can be the question of how, when, and where to deploy investments in technology in order to best realise specific business initiatives and gain true competitive differentiation.
While the primary benefit of PLM technology is process optimisation, organisations that lack a deep understanding of internal process improvement goals risk making unfocused technology investments that can lead to frustration and fail to achieve their full potential.
Over the past 20 years, PTC has worked with leading product development companies in a variety of vertical industries to achieve a wide range of business goals.
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As a result, PTC recognises that in addition to sensible technology investments, the most successful organisations have also developed best practices and sound business processes in critical product development areas.
Subsequently, PTC has developed a tool that helps customers realise value from PLM.
Using the tool, PTC helps companies align and prioritise business and product development goals with industry-specific process improvements.
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The result is a rational technology adoption path that is tailored to each individual organisation's objectives.
The central communication vehicle for the process framework is the new PTC Value Roadmap.
The Value Roadmap is a fully configurable, interactive software application that matches an organisation's goals with vertical industry best practices and delivers a dynamically created, customer-specific report.
"At Emhart Glass, we are committed to delivering the highest quality equipment, controls, and parts to our customers so that they can meet their business objectives".
"While maintaining this focus, we must also continue to improve our speed and efficiency in the development of new products".
"Therefore, when making PLM technology decisions, we need to consider more than just new features", said Steven Pinkerton, Vice President of RDandE, Emhart Glass.
"We need to think about how to improve our product development processes".
"With help from PTC's Value Roadmap, we can focus our investments on those areas that will have the most impact on our business goals".
Currently, PTC has created seven industry/audience-specific process landscapes with plans for two additional landscapes in the coming months.
Each of the seven process landscapes incorporates between 11 and 24 critical product development processes.
These detailed process landscapes contain comprehensive information about typical product development processes, including a model used to indicate a company's current level of maturity for a given process as well as the targeted maturity level they would like to achieve.
"Manufacturing companies are increasingly pressured to bring products to market faster, at lower cost and with higher quality", said Joe Barkai, Partner, Manufacturing Insights, IDC.
"As companies improve their product development processes to address these pressures, they must invest wisely, as investments in tools and methods that do not address the entire product lifecycle can result in frustration and inability to achieve business goals".
"Organisations need to be able to determine when to add incremental investments in technology in order to achieve specific business initiatives and true competitive differentiation".
"Aligning technology investments to best practices and process improvements is a key strategic focus for our customers", said Jim Heppelmann, Executive Vice President and Chief Product Officer, PTC.
"We have developed this comprehensive set of process-oriented information, inter-relational value drivers and a complex configuration tool as the result of years of research".
"Technology investments represent potential value to a customer, however we have found that customers who properly align process and technology optimisation can more readily realise that value and achieve significant competitive differentiation and industry leadership".
Interactive demonstrations and consultation sessions are currently available for product development practitioners to learn more about the Value Roadmap.
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