This episode covers practical PLM topics that result in more sanity for those who use them! This includes the engineering change process and product configuration control. When car models these days can have trillions of configurations, and can have changes within each of the variants that make up those configurations, a digital system to manage this is non-negotiable. It also takes the mental load off staff having to remember all the information or relying on people as the sole knowledge source of company information.
Chapter 3, “Virtually Useful,” proposed that the success of PLM was dependent on the value the organisation could get in each product phase: create, build, support, and dispose. Proposed values in the create phase included requirement development and verification, model release, design review, digital mock-up units, engineering change process, component updates, pre-release collaboration, product integration, product configuration control and validation, behaviour and performance analysis, procurement, marketing material, next-generation product, where-used and packaging. In the build phase: rapid prototyping, manufacturing by printing, Bill of Process creation, factory simulation, work instructions, error proofing, and as-built creation. In the support phase: configuration management, maintenance, service and repair, counterfeit part protection, product augmentation, performance feedback, product as a service and service as a product. As well as outlining the value in the disposal phase it was noted that new opportunities for PLM to add value will arise over time.
Chapter 4, “Virtually Priceless,” shocks the reader with the realisation that no one needs their product. They want the outcome it can give. Michael Grieves outlines the economic analysis of perceived value and how subjective it can be to calculate an accurate numerical value. For example, if an external factor changes, such as the price of oil, this can have a significant impact on the total cost of ownership of the product and thereby completely change the economic value. Two value maps were proposed: one from the consumer perspective (value = benefits/costs) and one from the manufacturer’s perspective (value = income/assets). Together this helps give a framework for defining a product’s value and cost.
To wrap up this summary, here’s a poll question related to a topic discussed during the video podcast:
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