GUIDE

Product
Lifecycle
Management
Table of Contents

1. P
 roduct Lifecycle Management (PLM) 2. Where legacy systems fail →
for the innovation battleground → Today’s shift from selling products to offering them as a
Changes in customer expectations have led to the service requires capabilities that traditional, on-premises
need to innovate, develop, and commercialize product PLM systems weren’t designed to deliver.
offerings faster.

3. D
 rive faster, higher-quality innovation 4. P
 LM ties the digital thread and enables
through commercialization → digital twins →
PLM needs to be unified on a common platform—from PLM forms the foundation for the digital thread and digital
initial idea and design through service—to help you twins to make enterprise-wide visibility possible.
drive faster innovation and shift your business forward.

5. Outcome-driven PLM → 6. O
 racle is your partner on the path to
Organizations are tapping the benefits of a modern
PLM success →
PLM solution, from finding and selecting better ideas Oracle Cloud PLM helps align design, planning,
to moving to new business models and getting to manufacturing, and service processes to provide
market faster. the foundation for business transformation.
1. Product Lifecycle Management
(PLM) for the innovation battleground

Innovation has become the new battleground for today’s top companies. But finding great ideas,
choosing which to invest in, getting them to market quickly and optimizing them over time is far
from easy. Most companies can’t tell you whether or not their product functions are delivering
a proper return on investment. Lacking this visibility, how can you strategically invest in new
product development without being concerned about stifling top-line revenue growth?

As we continue moving towards an “anything-as-a service” economy that delivers on customer

expectations, a big part of revenue hinges on not only your products’ success, but also the
success of its embedded software. Managing these product and service lineups require you to
have a holistic and connected view from innovation throughout your supply chain. As a result,
many companies are quickly discovering that their old PLM systems are making it even more
challenging to keep pace and are turning to cloud-based PLM software that’s ready to help them
build a resilient global value chain that’s more adaptable and responsive.

“Because manufacturers can continuously monitor products

in use, they can update their products, patch problems,
and rethink functionality—all of which improves customer
satisfaction. The intelligence from smart, connected
products can also inform future product features and new
product development. We are all familiar with automatic
app updates on our phones, giving us access to new
features or fixing problems over the air. Smart, connected
products can update themselves in the same way.”

Shreenivasa Chakravarti,
Global Head, Manufacturing Innovation and Transformation,
Tata Consultancy Services
2. Where legacy systems fail

The industry has talked about PLM managing the enterprise

product record for years. The reality is that legacy PLM systems
only create a consolidated product development record, but data
still remains fragmented across many siloed applications and
throughout product development, manufacturing, maintenance,
and quality management. As the speed of innovation accelerates
and customers are demanding more fulfilling experiences and
personalized products, many companies mistakenly think that
they can establish additional manual controls and build heavy
customizations on top of their current PLM software to keep up.
Attempts at doing this have only led to increasing IT costs and
complexity, without tangible business improvements.

The problem is that these legacy systems weren’t designed to

meet the digital requirements for today’s innovation processes—
they’re engineering-centric, do a poor job of managing the
complexities of global product launches, and aren’t built to
support complete service offerings such as ‘products as a
service’ (PaaS). Because traditional PLM systems require these
Recent product development research by engineering.com shows that when
extensive customizations to meet today’s dynamic business
requirements, product innovation ends up being confined within asked about the anticipated benefits of how an integrated cloud PLM solution
the product development team. will affect their businesses, respondents said that 10 out of 11 benefits will result
in moderate to revolutionary impact on their product development. Yet as it
stand today.
But just in the last few years…

Product development has become customer focused, meaning • Only 32% of development teams have access at any time to product data
companies need to quickly shift from selling just products to across the product lifecycle (engineering.com).
offerings increasingly defined as products, software, or services.
The data walls between PLM, Supply Chain, Manufacturing, and
customer experience have to dissolve to support the velocity and
• 54% of product development teams lack proper tools for tracking data
resilience of new business models and continuous innovation. sourced as part of the development process.

• Only 34% of product development teams can check their performance

against key performance indicators (KPIs) in real time.
3. Drive faster, higher-quality
innovation through commercialization

New technologies, products, services, and business models are evolving

quickly. Your company’s viability depends on how fast you can innovate and
commercialize successful, profitable products and services that customers
want. But innovation isn’t waiting around.

With today’s product offerings coming in many flavors, PLM must evolve to
become a smart, connected platform that can deliver the velocity needed
to support digital transformation and drive faster product launches. The
elements of a modern PLM platform are essential for companies who
depend on innovations to help them grow. A modern PLM solution unifies
processes, allowing for a seamless flow of data from idea capture to design,
all the way through manufacturing and service so you can accelerate global
product launches and time to market share.

What are the essential elements of a modern PLM?

Innovation management

Product development

Quality management

Product master data management

Configurator modeling
 Back

Innovation management

Faster Innovation
Capture and invest in the right ideas

Profitable innovation, faster Manage requirements and concepts

Drive faster, smarter innovation and ensure sustainable Document, prioritize, and agree on requirements that can be
growth. Oracle Cloud PLM helps you maintain a profitable leveraged in developing innovation concepts. Reuse existing
innovation pipeline fueled by a steady stream of the items, trace requirements through design, and validate that
highest-value, on-target, and relevant ideas. each has been met to reduce new product introduction risks.

Capture ideas from any source Build agility into innovation portfolios
Capture ideas for new products, services, markets, or Balance core, adjacent, and transformational innovation
customer experiences from any source. Evaluate each initiatives while aligning your resources, risk mitigation,
proposal across a 360-degree perspective of resource needs, and budgets. Use best-practice analysis to select an
assessed value, cost, and constraints. innovation portfolio that achieves your strategic and
profitability objectives.
 Back

Product development

Accelerate product development

Manage development product record and processes

Rapidly develop and launch products Accelerate change management

Gain faster, more efficient product development and launch Effectively manage and model change iterations with a
processes. Bridge traditional, disconnected engineering, R&D, collaborative change management process. Eliminate
and manufacturing functions by managing an integrated rework and compress cycle times by configuring defined
enterprise product record. workflows with the flexibility to make changes if needed.

Minimize design cost Enforce product compliance

Gain complete visibility into your product’s evolution by Enforce product compliance and proactively track changes
monitoring product iterations. Get feedback sooner and throughout your product’s lifecycle so you can quickly adjust
avoid costly rework with more effective collaboration to changing global standards, efficiently manage engineering
internally and with your design partners. documentation, and design compliant, finished products.

Reduce supply risk

Reduce supply risk and track part preferences
for manufacturing throughout each stage of design
by maintaining a single view of qualified parts
and suppliers across the entire product structure.
 Back

Quality management

Manage the quality of your products

Drive down the cost of quality

Closed loop Centralized document management

Improve the productivity, quality, and profitability of your Manage standard operating procedures and industry
processes and products. Drive closed-loop quality processes regulations with a single source of truth that integrates
through design, procurement, inventory, manufacturing, training, document management, and change control to
and field service to ensure rapid detection and resolution drive operational consistency, compliance, process
of quality issues. improvement, and audit readiness.

Data-driven Integrated issue management

Make faster, more-informed decisions and reduce risk with Drive greater efficiency with consistent controls of your
a predictive and connected 360-degree view of product quality processes. Capture, aggregate, and perform
quality across product lifecycle and supply chain processes. root-cause analysis on quality issues raised from sources
including the Internet of Things (IoT), field service,
Proactive incoming inspections and work-in-process inspections.
Rapidly respond to issues, prevent their reoccurrence, and
drive continuous improvement with closed-loop corrective
action processes that are tightly integrated with your product
development, enterprise change, document management,
and inspection processes.
 Back

Product master data management (MDM)

Harmonize product data

Orchestrate launch to hit your targets and capture the best ROI

Product commercialization Integrated collaboration for external users

Efficiently commercialize new products and services Automate and deliver continuous business rule validations
by sharing the right product data required for your and verification of data to allow global contract manufacturers
sales, marketing, supply chain, and financial processes. and suppliers to receive accurate information and authenticate
the data they provide—no matter where they’re located.
Item mastering
Keep your item master data clean and synchronized across Centralize and consolidate product data
applications, data pools, and partners with a best-practice Gain a single platform to centralize and consolidate product
product information management process and flexible data without disrupting ERP and supply chain operations.
attribution, change control, and native governance capabilities. A modern PLM can help you unify data from the numerous
ERP systems that can result from organic growth, mergers,
Omnichannel commerce and acquisitions.
Ensure that complete and consistent product information
is published across your sales channels while efficiently
sharing trusted product data across SCM, ERP, and order
fulfillment systems.
 Back

Configurator modeling

Model complex products

Optimized user experience Model behavior simulations

Build better user experiences by guiding your customers to Design, build, and test business logic and model behavior,
valid product configurations. Use display condition rules and as well as overall user experience, prior to release. When
a variety of selection controls to dynamically control how your releasing new versions, you can leverage comprehensive
content is displayed in the user interface. impact analysis and validation checks to ensure quality.

Templatized design Simplified sales process

Quickly create the dynamic runtime user interface that Guide your customers to the right products. Simplify the
best meets your needs by choosing from predefined user configuration process by adding high level questions and
interface templates. tying the answers directly to one or more options.
The six defining traits Integrated and intelligent
1 Connect design through service processes—from capturing your initial idea through maintaining
of modern PLM cloud products and services—all on a single data model for faster decision-making. Modern PLM

applications
leverages social monitoring, (IoT), digital twins, artificial intelligence, and quality data to close
the data latency and information gaps between the product and the customer.

Innovation driven
2 Empower smarter innovation with the tools needed to streamline, translate, optimize, and
execute a balanced and achievable portfolio targeted to deliver winning offerings matched
to growth strategies. Tightly link the voice of the customer with the voice of the product
into the enterprise product record to enable faster, smarter decisions and traceability.

Collaborative
3 Efficiently view and share information from any device in real time across internal and
external teams while developing and managing new products and engineering change
requirements. Cloud PLM delivers a flexible user experience that encourages collaboration
through social, mobile, AI, and chatbot-enabled applications.

Purpose built
4 Reduce the need to staff an entire IT department for new product introductions and
product launches. Uses embedded solutions for configurability and delivers a single source
of truth on a common data model across applications, for complete visibility.

Continuously improved
5 With rapid and unpredictable change, Cloud PLM is continuously updated to ensure the
latest innovations are always built in without disrupting your business.

Secure
6 Use leading security technologies to implement and manage consistent security policies.
Exercise positive controls to ensure that key data assets are formally managed and
governed throughout the enterprise.
4. Digital: PLM ties the digital thread and enables
digital twins

4a. How modern PLM delivers the digital thread

“Oracle has taken a different
Technological advancements that enable businesses to respond to change quickly are driving new business approach by rewriting its
models, digital transformation, and Industry 4.0. Modern PLM software provides the core foundation and
intersection of critical, cradle-to-grave product lifecycle processes woven with real-time data from technologies
ERP, PLM, SCM, customer
such as IoT, AI, and machine learning (ML). Global organizations are leveraging what emerged as a “digital experience (CX), and IoT
thread” and “digital twins” to change how they design, manufacture, and service products.
applications on a unified
The digital thread can be defined as a collaborative, single data platform that ties together all elements of the cloud platform. With this
enterprise and its data to produce a holistic view of a product’s physical and digital journey throughout its approach, Oracle is providing
lifecycle. The digital thread helps break down the walls created by disparate and siloed systems and reduces the
latency and complexities of having to gather information across supply networks and share it at every step of the a single enterprise record
product value chain, including early product design, operations, manufacturing, service, and end of life. Today’s that spans all enterprise
PLM software provides the digital thread you need to access the right information, delivered to the right people,
at the right place and time—breaking down organizational barriers to unlock speed and agility while ensuring the cloud applications, creating
highest product quality. an expansive digital thread
that runs through the entire
4b. How modern PLM supports digital twins product lifecycle.”
Simply put, a digital twin is a digital representation of a physical asset. Digital twins leverage the aggregation of
current, historical, and representational data of a product to reflect its real-world use. When a physical object’s CIMdata,
data is made available, a digital representation—a digital twin of the same object—can be simulated to model Leading PLM analyst firm
the behavior of the object as it’s designed, built, maintained, or manipulated; creating a virtual profile of the
object at every step of a product’s lifecycle.

As data continues to be collected across the product lifecycle—data from customers, factories, IoT sensors,
AI, ML, PLM, and operations—it’s woven into the digital thread and the digital twin becomes more accurate.
Digital twin technology provides invaluable, real-time updates that enable organizations to identify and analyze
a problem in an asset or in the production line, and fix it quickly. Companies that have adopted digital twins
gained significant competitive advantage through eliminating unplanned downtime, which reduces cost while
improving product quality and customer experience. This is only possible with a modern PLM capabilities.
5. Outcome-driven PLM

Innovate and get to market faster Increase return on investment

Accelerate new product introduction by efficiently managing design, Get early visibility into the success or failure of your idea with the ability
requirements, and engineering change orders while enhancing and unifying the to shift from failing projects to higher-value opportunities, and gain deep
enterprise product record across the supply chain and into commercialization. insights to optimize your innovation portfolio.

Accelerate product development Ensure customer satisfaction

Efficiently develop and manage new products and engineering change Close data latency and expectation gaps between the product and the
requirements while enhancing your product record through item and customer, leveraging the voice of the customer, social monitoring, and voice
approved manufacturer list (AML) management, bill of materials (BOM) of product, IoT, digital twins, AI, digital assistants, and quality assessment.
management, change management, and supplier collaboration. Configure complex, multi-option, and customizable products and services.

Simplify requirements management Ensure product compliance

Ensure your design meets requirements by utilizing powerful guided selling Enforce product compliance and proactively track changes throughout your
and configuration solutions that enable flexible modeling of configurable, product’s lifecycle so you can quickly adjust to changing global standards,
multi-option, and customizable products and services. efficiently manage engineering documentation, and design compliant,
finished products.

Harmonize product data Ensure product quality

Establish governance and publish product master data for globalized Manage closed-loop quality at every step of design through service with
manufacturing and omnichannel commerce. Seamlessly syndicate data to built-in, enterprise-ready, closed-loop quality management to define, identify,
internal and external applications and marketplaces with a single, multidomain analyze, and correct quality events and improve the overall effectiveness,
solution, delivering trusted and commercialized product information. safety, and profitability of your products and services.

Reduce costs Scale rapidly

Free your CapEx and channel your resources toward building new products Overcome scale constraints imposed by legacy systems and rapidly scale
instead of maintaining and customizing IT systems. your business processes as they grow to ensure consistently great customer
experiences.
6. Oracle is your partner on the path to PLM success

Oracle Cloud PLM is built and delivered on a Software-as-a-Service (SaaS) model, meaning it’s always kept up
to date with the latest features, functions, and best practices. Cloud PLM rolls out updates regularly, so you’re Oracle Cloud PLM helps Broadcom
continuously leveraging the latest innovations. Access to these new capabilities means you get immediate value manage complex product launches and
from built-in, predictive analytics, AI, ML, IoT, and digital assistants that work together to create 3D models and get to market faster.

digital twins that turn data into preventive, predictive, proactive, and prescriptive insights.

Oracle Cloud PLM delivers visibility through a true digital thread—aligning design, planning, manufacturing,
and service processes—to provide the foundation to support business transformations. When PLM is unified on
a common platform across ERP, SCM, supply chain planning, manufacturing, maintenance, IoT, and customer
experience, you can drive faster decisions and maximize ROI with higher-quality innovations throughout and
after product launch, while remaining resilient when markets change.

Symantec replaced Agile and multiple other

systems with Oracle Cloud PLM to simplify
their process and reduce go to market time
from 3 to 4 weeks to 3 to 5 business days.

For more information

Please visit: oracle.com/scm/product-lifecycle-management

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