Companies in every industry have faced unprecedented disruption for nearly two years now, and it has been made clear that some are handling pandemic-induced challenges much better than others. But what is the key difference between those who struggle and those who succeed? On this episode of the Digital Enterprise Society podcast, Thom Singer and Craig Brown are joined by CIMData President and CEO Peter Bilello for a discussion about the role of PLM in thriving companies, the intersection of AI and PLM, and market trends that successful companies need to take note of and pivot toward today.

 

On today’s podcast, you will learn:

Why are companies booming despite the pandemic?

• Challenges and opportunities meet at the same point.
• Different industries have been impacted by the pandemic in a variety of ways based on what they deliver to the market, but all industries have experienced disruption of some sort.

• Whether positive or negative, dealing with disruption is the name of the game right now.

 

PLM as an enabler of success

• Margins tend to be better in companies that employ product lifecycle management.
• However, there are plenty of successful companies that do not use PLM as a strategy.
• A strong PLM foundation tends to help companies deal with disruptions more efficiently.

 

The downside of remote working

 

• While many companies have successfully transitioned to remote work only, there are limitations that come with it.

• Innovation happens haphazardly, and most often amidst coworker side conversations rather than in virtual meetings.

 

• Collaboration is much less likely to happen when teams are not meeting in person.

 

4 key market trends

• AI and machine learning are gaining momentum in more companies.
• More companies are moving toward SAAS options.
• The true enablement of the life cycle is being realized more than ever before.
• End-to-end connectivity and much-needed configuration management are improving exponentially.

 

Managing chaos and improving resiliency with PLM

• There will always be a cultural, human element to chaos and resiliency.
• The first step to dealing with disruption is to understand what’s going on, to begin with.
• The theory of constraints illustrates where the focus and optimization need to take place.
• Flexibility improves with the implementation of PLM.
• Products exist within true system-to-systems, and resilient companies are able to adjust fast enough that the disruption is not fatal.

 

Areas to focus in on now

• Ask yourself if you are document-centric or data-centric.
• Documents can only get you so far as they tend to hide information.
• Identify model-based data and information constructs to unlock key information.

 

Continue the conversation with us within the Digital Enterprise Society Community at www.DigitalEnterpriseSociety.org.

 

Digital Download: Virtual Round-Table Series