I’ve been reading white paper by Kalypso – 4 Reasons Why Industry Leaders Aren’t Losing Sleep. Max Cochet explained four best practices how industry companies need to manage in order to sleep well during turbulent regulation rules. Some of them made me think about opportunity regulation rules created for Product lifecycle Management. Before talking about it in detail, I’d like to put some quotes from Kalypso paper. You can read the full paper following this link.
Consumer goods industry leaders follow an informed vision. Regulations may be going in one direction today and in another direction a couple of years from now, so it doesn’t make sense to base a long-term strategy on upcoming regulations. Companies need to make million-dollar bets on strategies that fit their vision while allowing some flexibility. Adaptation, rather than reaction, is the most efficient method to handle changes to the business environment. a couple of years
Integrated product lifecycle management (PLM) systems and processes enable companies to manage their existing and future product data and act efficiently to adapt to regulations. Smart investments such as these enable best-in-class companies to keep their house in order and prepare for future transformations of their environments.
Now, why I found this paper interesting? Regulation becomes a serious driver to organize product record in the company. This is something a company cannot avoid and need to follow. At the same time, regulation is something that is going to change all the time. What Kalypso paper offers are to follow PLM strategy and create flexible PLM that can keep full product information record in the company and make it compliant to the future regulation rules. Sounds like very smart? Flexible PLM option makes a lot of sense.
Pre-configured PLM best practices and Flexibility
Looking on many websites of PLM companies these days, I see a huge effort into presenting industry solutions and best practices for available PLM solutions. I can find it on almost every PLM vendor website. So, I started to think how a recommendation to have flexible and integrated PLM can live together with pre-configured business practices. My hunch is that marketing is working extra-hours these days by trying to present how PLM solution can fit business requirements. However, flexibility as one of the basic requirements have been left behind.
PLM Renaissance, Regulation and Flexibility
Why I see regulation as one of the drivers for PLM renaissance? The huge amount of regulation rules has a potential to burden life of manufacturers in industries. The number of industries going under regulation is growing and these companies will be looking for a solution. At the same time, as it was mentioned in Kalypso’s paper, regulation is dynamic and going to change within the time. So, investing into specific solution for regulation doesn’t make a lot of sense. To invest into a flexible system (and PLM can be such a system) to organize data in the organization to make it compliant to the many regulation rules – this can be a good opportunity for PLM Industry.
Just my thought… Does it make sense to you? What do you think?
Best, Oleg.
