Advantages of PLM

1) Storage of Engineering Data at central location.
2) Ensure Product Data Security.
3) Standardization of formats & specifications.
4) Proper revision control.
5) Collaboration with customers & suppliers.
6) Reducing the communication gap between various internal
departments.
7) Streamlining the New Product Definition & Development
Processes.
8) Adherence to International Quality Standards.
9) Paperless Design center.
10) Introduce Value Engineering. (e.g You are designing new
Flywheel, but before designing new instance you can search
existing flywheels on based of design attributes. If any
flywheel matches your requirement, then you can reuse
existing component instead of designing a new one.)
11) Eliminate manual activities.
12) Creating a knowledge sharing culture.