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2 months ago
What is PLM and how management can use it to improve product design?
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Accounting Information Systems
Edition: 14th
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PLM software can help improve the efficiency and effectiveness of the product design process. PLM software consists of three key components: computer-aided design (CAD) software to design new products, digital manufacturing software that simulates how those products will be manufactured, and product data management software that stores all the data associated with products. The potential benefits of PLM software are enormous. For example, General Motors estimates that it costs approximately $500,000 to run crash tests with real cars and hopes that CAD software can reduce the number of such tests by 85%.
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