Companies are turning toward product innovation to achieve revenue growth, but to generate return on an innovation idea, the idea must be fully developed. When the concept has been fully defined, validated, and transformed into a product, it is then ready for commercial launch and execution from a sales, marketing, manufacturing, and logistics perspective.
it product life cycle
product knowledge and making it accessible during the product innovation process is very important, but access to that information provides little value to manufacturing resources. Instead, it increases the potential for confusion or the introduction of errors due to clutter. Because of the processes they were designed to serve, PLM systems are intended to manage early product structures and design information, where ERP systems may have trouble capturing a product structure before part numbers are define