customized plm solution for industry machinery

Customized PLM solution for Industry Machinery

Abstract

Globally, the sector of industry machinery is a very fast growing one. With improving economic conditions fuelling

the growth of the sector as well as emerging economies coming very strongly into the picture, this sector registered

a US$1.5 trillion in 2013 and is set to grow to US$2 trillion in revenue by the year 2018 (Rise of the Machines, 2014). A

high demand for industry machinery across several manufacturing sectors have propelled the growth of this

industry, viz. automotive industry, construction, robotics, oil and gas, packaging industry, etc., which are also seeing

an upward tangent due to increased customer demand. Despite a drop in the energy sector due to a turbulence in oil

prices last year, the demand for new machinery continues to see a spurt of growth due to the heightened demand

from all other sectors (Industrial Machinery & Equipment, 2015). However, this increase in demand also translates

to the emergence of several low cost competitors. Added to that is the fact that this industry as a whole faces very

stringent regulatory norms. This industry also has very low barriers to entry and players do not have a high market

share concentration, which naturally means that competition is cut throat. To stay ahead of the race, the

manufacturers of the machinery and equipment have to start revisiting the way they do business.

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Contents

Abstract 1Table of Contents 2Challenges Faced in the Industrial Machinery Industry 3Customizing Solutions the PLM Way 3Conclusion 4References 5About the Company 6


Challenges Faced in the Industrial Machinery Industry

Customizing Solutions the PLM Way

Despite the growth that presents a golden opportunity to this sector, the challenges that they face is also an undeniable fact. Some of the challenges that manufacturers of industry machinery face, to name a few, are:

l Unprecedented growth in globalizationl Huge increase in demand l Stringent regulatory, emissions and compliance requirementsl Emergence of several low cost competitorsl Less understanding of the emerging marketsl High costs of products and processesl Pressure to innovatel Fast evolving technologiesl Lack of proper channels for relationships with suppliersl Lack of / low scalability of processes l Inability to penetrate different locations and markets due to lack of flexibility and proper product mixl Low go-to-market strategizingl Rising costs of raw materials and manpowerl Low capabilities of systems and processesl High costs of procurement and logistics

A large heavy equipment manufacturer with a global presence faced multiple challenges in sustaining their growth chart. Lack of proper systems and procedures, several teams across the world operating as individual entities and a large mix of products that were operating on redundant technologies added to their list of woes. While they were posting a healthy profit due to the size of their portfolio and customer base, they were not able to sustain a proper growth in performance. Due to the presence in multiple locations, the cost of holding inventory was also very high and a lack of visibility made collaborative working an impossibility.

The manufacturer was looking for a solution to overcome all these challenges, create a calibrated process for their functions, as well as expand their portfolio with the latest technologies and innovations. For this, they were also looking to be able to create variations in design in real-time, without having to spend a lot of time and money to test and retest. Due to the variations in the demand for a solution, what they needed was a solution that could be customized to answer all their challenges.

They approached a leading PLM solutions provider to provide customized solutions that could answer all their questions, right from product conception to end-of-life.

The customized PLM solutions came in the form of CAD technology blended with the suitable software to aid in (Industrial Machinery Manufacturers need to Recalibrate, 2015):


1. Product Lifecycle Management2. Computer Aided Designing

1. Product conceptualization, design and layout2. Real-time testing and validation3. Prototyping4. Development of product5. Development of strategies6. Requirements and specifications management7. Single source of truth for data and information in the Cloud that could bind disparate teams8. Easy automation9. Increased transparency and visibility into different processes10. Vendor management which also helped them better manage their procurement and logistics11. Inventory management12. Assistance with legacy conversions, drafting, modelling, etc.13. Industry best practices to give additional support14. Ongoing assistance at all stages till end-of-life

The heavy equipment manufacturer was able to reduce production costs and position themselves better among

competition due to assisted improvement in their market share strategies. With decreased costs, they were able to

concentrate of innovation technologically-rich products using best-in-class processes in a virtual environment. With

better data sharing came better collaboration and this led to the collaboration of the disparate teams, both internal

and external and broke the autonomy. As a result, they were able to realize annualized benefits to the tune of

US$235 million and the creation of proper systems and procedures helped them to sustain this spike in growth.

Conclusion


References

Industrial Machinery & Equipment. (2015, October). Retrieved from ibisworld.com:

http://www.ibisworld.com/industry/default.aspx?indid=948

Industrial Machinery Manufacturers need to Recalibrate. (2015). Retrieved from infinitiresearch.com:

http://www.infinitiresearch.com/thoughts/industrial-machinery-manufacturers-need-recalibrate

Rise of the Machines. (2014, April 7). Retrieved from press.ihs.com: http://press.ihs.com/press-release/design-

supply-chain/rise-machines-industrial-machinery-market-growth-double-2014


About PROLIM:

US OFFICE – DALLAS

US OFFICE – DETROIT

CANADA OFFICE

INDIA OFFICE

PROLIM is a leading provider to industries like Automotive, Aerospace, Manufacturing

Supplier and Life Sciences. Providing these services has helped the clients to enhance efficiency and top-line growth

As one of the fastest growing private Companies in America recognized by Inc 500, PROLIM being customer focused

rather than product focused, the company envisions harnessing customer requisites by adding more satellite offices

over the next few years in major metropolitan centers PROLIM envisages reaching customers beyond borders to

deliver effective services in the west and east coasts of the US Canada and Europe and Asia.

PROLIM Global Corporation

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Plano, TX 75093

Phone: 214-945-2667

PROLIM Global Corporation

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Phone: 248-522-2575

PROLIM Canada Inc

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Phone: 416-220-2892

PROLIM Solutions Pvt. Ltd.

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Bangalore 560055

Phone: +91 80-41637666

PLM Software Services


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