Abstract
In the first section of this chapter, we provide some background and essential information on product lifecycle management. First, we describe the concept of product lifecycle management (PLM) and analyze the influence of this concept on the value chain of product development. Subsequently, the potential value creation by means of product lifecycle management is presented, and the main value drivers of the concept are emphasized. In the next section, the cost related to implementing product lifecycle management is broken down. As this matter concerns IT investments, the concept of the Total Cost of Ownership (TCO) is introduced. The following section describes the benefits, costs and challenges which are related to the implementation of the Siemens PLM Software Suite®. It describes the general implementation process of adopting the Siemens PLM environment. Subsequently the findings are illustrated with the example of a Siemens business unit which implemented PLM throughout the lifecycle of their products. The case study illustrates our theoretical considerations with real business cases. The chapter concludes with a summary of findings and provides an outlook on future evolution in product lifecycle management.
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Notes
- 1.
These figures are based on a Gartner Inc. survey of 1756 companies across 22 industry sectors.
- 2.
High definition and three dimensional.
- 3.
Citation attributed to Arthur Schopenhauer, philosopher 1788–1860.
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Scheubel, C., Bierschneider, P., Gierse, H., Hermann, R., Wokusch, M. (2018). Valuing Product Lifecycle Management. In: Friedl, G., Kayser, H. (eds) Valuing Corporate Innovation. Management for Professionals. Springer, Cham. https://doi.org/10.1007/978-3-319-64864-4_3
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