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Introduction:

PLM is a management system that saves and unifies information on business systems, personnel, processes, and technology used by the company to design, develop, launch, and maintain a product. It offers essential elements to simplify every phase of a project's life cycle, from start to finish, while improving communication between internal and external parties. Product lifecycle management (PLM) is a crucial component.

Rework can be avoided, time-to-market can be shortened, and total costs can be decreased with a successful PLM deployment. Although the word may seem complicated, it has been important in rapidly increasing the pace of product delivery.

A recent estimate from Accenture states that companies annually spend over 25% of their sales on innovation and product development. 50% of the entire expenditure is allocated to products that either arrive on the market too late or fail to satisfy the expectations of the user.

What Makes PLM Crucial?

​PLM integrated software is able to precisely determine the overall amount of money needed for the whole product development ​process as well as the approximate amount of money that will be made.

​PLM software removes this risk by automatically generating a development file that is sent to the development floor and keeping ​a shared record of all file versions. And any member of the relevant team can access these from wherever.

​​-   The productivity and efficiency of the task could be improved by incorporating PLM software, even though technical processes ​could be obscure.

​​-   Working together on the same project is made easier by the shared version control functionality and its simplicity and visibility.

​​-   Improves error recovery and gets rid of human mistakes.

​​-   All of the teams' communication is enhanced by a shared repository.

​​-   Building, modifying, and adapting robust, integrated workflows when needed is made simple by PLM software.

PLMs are an enormous asset to product managers. They may simply monitor every procedure and take command of each ​stage of the manufacturing process.

Odoo’s Product Lifecycle Management

Success in manufacturing business operations depends critically on the efficient management of product life cycles. Adopting strong Product Lifecycle Management (PLM) solutions is becoming more and more crucial as businesses work to streamline their operations and boost productivity. The Odoo app stands out among the many options available since it is a flexible tool that addresses the core components of PLM.

The Odoo PLM app is a dependable resource for meeting the fundamental requirements of product lifecycle management right out of the box. It offers a methodical structure for handling modifications, keeping track of product information, and preserving traceability over the course of the lifespan. Many organizations may find that the standard features of the Odoo PLM software are sufficient to fulfill their needs, especially those with simple product architectures and low complexity in their bill of materials.

Odoo 17 Introduction:

This is where Odoo 17 PLM comes into play. It offers a ground-breaking method of product lifecycle management (PLM) and seamlessly connects with your current Odoo ERP system to create a single, unified platform.

The Product Lifecycle Management (PLM) module for Odoo 17 represents a major advancement in handling these complexities.

Businesses may anticipate a more integrated, effective, and user-friendly approach to managing their product life cycles with Odoo's most recent release.

In the next blog you’ll see the step-by-step process on what PLM is and how to use the module.

Key Features of Odoo's PLM Module

Change Management:

The PLM module's strong change management system is one of its best qualities. It lets you keep tabs on modifications made to product specifications and designs. The module assists with the documentation, approval, and implementation of change requests whenever they are necessary without interfering with running operations.

Document Management:

You can immediately attach documents to your goods with the PLM module. Design files, specs, and other important papers may be examples of this. This guarantees that all pertinent data is maintained in one location and is readily available to team members who require it.

Orders for Engineering Changes (ECOs):

The engineering change order creation and administration process is made simpler by Odoo's PLM module. These orders are essential for recording modifications to manufacturing procedures or product designs. The module assists in monitoring the progress of these orders and guarantees that modifications are applied accurately.

Materials Bill (BoM):

The Bills of Materials can be managed in detail thanks to this module. It facilitates the creation and upkeep of BoMs, which are necessary for manufacturing procedures. As product designs change, updating and managing BoMs is simple.

Versions of the Product:

Different versions of products are produced as they progress through different stages of development. You may always work with the most recent version of the product thanks to the effective management of these versions provided by Odoo's PLM module.

Tools for Collaboration:

The module has elements that let team members work together more easily. Users can efficiently interact, track changes, and leave comments on papers, all of which help to ensure that all parties are in agreement.

In what ways does Odoo PLM improve the Product Lifecycle for your company?

Satisfies Industry Standards and Compliance

Every business must follow legal requirements before releasing a new product. Failure to abide by these rules could damage the brand's reputation and have a negative impact on the company's industry dynamics.

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Odoo guarantees product conformity at every stage of the procedure, including after the product is released and given to clients. Odoo's careful planning throughout a product's initial design phase eliminates all risk and ensures success in subsequent phases of the product life cycle, like product marketing and go-to-market.

Improved Cost and Production Control

Over time, price erosion and variability have increased significantly, therefore businesses need to figure out how to accurately estimate costs. Odoo PLM makes this easy. Odoo looks at every aspect of production, including both affordability and longevity. They provide functions including scheduled reporting, real-time dashboards, and a separate feedback system.

By employing techniques for reusing and discouraging customers from purchasing duplicate parts, Odoo contributes to revenue savings. Odoo is an AI-driven PLM system that evaluates all the data required for an organization to monitor its advancement. They are entirely adaptable and dependent on emerging trends or anomalies.

Quicker Time to Market

One company's superiority over another may be determined by its speed. Odoo PLM facilitates speedier production, allowing completed items to reach the market up to 75% faster than those of competitors.

These cover a wide range of phases in the production and sales process. It's a long way between obtaining client feedback and gathering raw supplies. Teams can discuss issues more easily at various stages because of Odoo's rapid information sharing capabilities.

Boosts Income

Odoo PLM offers us ways to boost revenue for our businesses. A more efficient production method, quality assurance, and cost control would all speed up the process. "Teamwork makes the dream work," as the saying goes.

Odoo allows coworkers to share the individual workload, increasing productivity and ultimately driving up sales and revenue. Closed feedback systems are included in this customer-focused and customer-friendly software, which aids in the improvement of manufacturing processes and insight-gathering for the various production teams. In today's world, the secret to success is to learn from your failures.

One of Odoo's primary goals is to increase income and save money, with an emphasis on overall development rather than on individuals.

Centralization

The development process is accelerated by visibility, team productivity, and income production brought about by centralized information and workflows. PLM systems were previously configured based on assumptions, which restricted access and the degree of data sharing. It's simpler and allows for real-time communication with Odoo.

This makes it possible for departments to synchronize like never before. Every team may contribute to product innovations at any stage of the product life cycle using a centralized platform. This is also very helpful for version control when working with other parties, as they can simply obtain the most recent product design without having to transmit numerous files.

Increased Product Quality

Odoo makes it possible to create creative products. Teams get direct access to customer feedback throughout the full product lifecycle thanks to the system's combination of consumer and product data. Metrics are simpler to monitor, and this data allows for constant improvisation.

Planning and prioritizing are made easy by the data-driven insights that come directly from every team. Product-related issues can be swiftly identified, resulting in quicker marketing.

Design and quality processes go hand in hand and enable teams to be flexible while adhering to regulations.

Odoo PLM has innovated products in a way that is entirely new. Any company can start from zero when developing a new product concept and still produce a high-quality final product. It will ineluctably raise a product's value and enable resource optimization for increased profitability.

The necessity of Odoo 17 PLM in the Manufacturing Sector

Today's manufacturing businesses must overcome a multitude of obstacles, such as the requirement for effective departmental teamwork and quickly shifting market expectations.

By offering a consolidated platform for managing the full product lifecycle, Odoo 17 PLM tackles these issues. For manufacturers looking to improve product quality, shorten time-to-market, and encourage innovation without sacrificing cost-effectiveness, this module is crucial.

Let's explore the revolutionary potential of Odoo 17 PLM, a technology created to improve Odoo 17 manufacturing efficiency, optimize manufacturing PLM processes, and aggressively address difficulties related to product lifecycle management.

In Conclusion

The complexity of the company's manufacturing processes and BoM structures may affect the capabilities of the Odoo PLM software, even though it provides a strong foundation for managing product life cycles.

The Odoo PLM app is a fundamental tool that offers version control, change management, and BoM connectivity features.

Additional customization and integration could be necessary to accomplish thorough product version control and meet the demands of intricate multi-level BoMs. Through the utilization of supplementary solutions and customization choices, companies may fully utilize the Odoo PLM application to stimulate innovation, streamline operations, and improve their competitiveness in the international market.