PLM Statistics


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Steve Goldstein
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Plm Statistics 2023: Facts about Plm outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Plm, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

How much of an impact will Plm Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

Please read the page carefully and don’t miss any words.

On this page, you’ll learn about the following:

Top Plm Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 10 Plm Statistics on this page 🙂

Plm “Latest” Statistics

  • Even though aerospace, automotive, high-tech, and industrial equipment still make up about 80% of the market, other industries, like retail and consumer goods, can benefit from using a lifecycle approach to product management.[1]
  • According to Quadrant, the PLM industry accounts for 3.1% of the market and is anticipated to expand by approximately 7% annually.[1]
  • The following statistic was revealed by research that was carried out by the Tufts Center for Drug Development and was last updated in 2016. It costs an average of $2,6 billion to bring a new drug to market.[1]
  • The following statistic was revealed by research conducted by the Tufts Center for Drug Development and last updated in 2016: only 12% of new drugs make it through clinical trials.[1]
  • A survey by Jos Voskuil found that 35% of respondents did not have PLM as their primary job objective, while 65% of respondents were PLM consultants.[2]
  • The majority of PLM consultants (30%) either work for a service company that implements multiple PLM solutions or for a software vendor (43%).[2]
  • There are still a lot of PLM consultants with a focus on business strategy (20%) and change management (8%) as their specialties.[2]
  • 86 percent of respondents said that PLM is a journey, while 3 percent said that it should be considered a program.[2]
  • More than 60% of respondents have worked in PLM consulting for more than 8 years.[2]
  • Only 14% of respondents have less than three years of PLM experience.[2]

Also Read

How Useful is PLM

One of the key benefits of PLM is its ability to enhance collaboration between different departments within a company. By providing a centralized platform for sharing information and communicating effectively, PLM helps break down silos and promote cross-functional teamwork. This results in improved communication, reduced errors, and faster decision-making, ultimately leading to better products and shorter time-to-market.

Moreover, PLM is instrumental in promoting innovation and creativity within organizations. By providing a structured framework for managing ideas, feedback, and iterations, PLM enables companies to experiment with new concepts, evaluate their feasibility, and bring them to market in a structured and efficient manner. This accelerates the product development process and allows companies to stay ahead of evolving customer demands.

Additionally, PLM helps companies optimize their supply chain and manufacturing processes by providing visibility into product-related data and ensuring efficient collaboration with suppliers and partners. By integrating data from various sources and streamlining workflows, PLM enables companies to identify bottlenecks, mitigate risks, and improve the overall efficiency of their operations. This, in turn, leads to cost savings, improved quality, and enhanced customer satisfaction.

Furthermore, PLM plays a critical role in ensuring regulatory compliance and sustainability within organizations. With increasingly stringent regulations governing product safety, environmental impact, and data security, companies need to have robust systems in place to ensure compliance at every stage of the product lifecycle. PLM helps companies track and manage regulatory requirements, document compliance efforts, and demonstrate due diligence, thereby reducing the risk of fines, lawsuits, and reputational damage.

In conclusion, PLM is a versatile and powerful tool that offers a wide range of benefits to businesses across different industries. By enabling collaboration, driving innovation, optimizing processes, ensuring compliance, and supporting sustainability, PLM helps companies navigate the complexities of modern business environments and achieve long-term success. As technology continues to evolve and customer expectations rise, organizations that invest in PLM will be better positioned to adapt to changing market dynamics, capitalize on new opportunities, and stay ahead of the competition.

Reference

  1. openlm – https://openlm.com/blog/benefiting-from-plm-in-the-pharmaceutical-industry/
  2. virtualdutchman – https://virtualdutchman.com/2013/07/06/plm-statisticsthe-result/

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