In today’s challenging global market, enterprises must innovate to survive. Business innovation must occur in all dimensionsproduct, process, and organizationto improve competitiveness and business performance.To differentiate themselves, enterprises must capture,manage, and leverage their intellectual assets. This can best be accomplished through proper application of aProduct Lifecycle Management (PLM) approach that addresses the needs of the extended enterprise. PLM is a strategic business approach that helps enterprises achieve its business goals of reducing costs, improving quality, and shortening time to market, while innovating its products, services, and business operations.
“One of the most noteworthy accomplishments in keeping the price of Ford products low is the gradual shortening of the production cycle. The longer an article is in the process of manufacture and the more it is moved about, the greater is its ultimate cost.” Henry Ford 1926
