Navigate the tricky part towards PLM innovation

Innovation is truly a confusing buzzword. I kind of love to hate innovation. Every company on the earth agrees that innovation is absolutely important. But nobody can actually agree on what is it actually means.

I decided to Google about innovation definition. The results (coming with 600+ millions results are very much confusing. Google’s definition of innovation is very much useless: (1) the action or process of innovating; (2) a new method, idea, product, etc.

Earlier this week, I had a chance to speak about innovation, new buzzwords and old PLM methods at PI PLMx conference in Hamburg. If you missed my earlier blogs about, you can catch up here – PI PLMx 2018 – Collaboration, Financial Impact and Status Quo; Getting ready for PLMx 2018 and Digital Transformation and PLM consulting live debates and A look into PLMx Hamburg Agenda.

Today, I want to share slides from my presentation. I wanted to talk about digitalization and future trajectory of innovation in PLM. Check my slides and tell me what do you think.

There are two important things related to PLM innovation. External factors such as digital transformation of all businesses. All companies are changing these days and it is influence  everybody. However, second thing is related to changing of PLM paradigm. PLM is expanding, create a bigger financial impact and, what is the most important – switching from PLM control to PLM intelligence.

What is my conclusion? The future of PLM innovation is dependent how PLM vendors, technology, applications and methods will start to include “networks” into their business. Most of successful companies in the world these days are heavily using networks. PLM will have to repeat it, otherwise it will be doomed. Just my thoughts…

Best, Oleg

Want to learn more about PLM? Check out my new PLM Book website.

Disclaimer: I’m co-founder and CEO of OpenBOM developing cloud based bill of materials and inventory management tool for manufacturing companies, hardware startups and supply chain. My opinion can be unintentionally biased.