What is Product Data Management and Why is it Important for Your Business

Do you own a product-based business and looking for solutions to streamline the production process to drive work efficiency and ROI? Product Data Management is a one-stop solution to cater to all your engineering design and production needs and it is much more crucial to your business than you think.

What is Product Data Management?

Product Data Management (PDM) is a tech-enabled solution that is used to take control of all the information involved with the production of a  particular product. From conceptualization to market delivery, PDM keeps track of all the data to standardize the entire lifecycle. A PDM model generally includes the product description, supplier or vendor details, cost, schematic or Computer-Aided Design (CAD), etc.     

Why is it so important?

As we have gradually shifted from a tech-assisted world to a tech-dependent world, effective business techniques such as PDM has become the need of the hour for reasons more than one. Let’s find out how.

  • Expenses report: You can easily maintain theproduct cost reports and make necessary evaluations accordingly. This can be very useful especially for Small and Mid-sized businesses that always work under a limited budget and resources. This helps them maintain a cost analysis report to avoid cost overruns in the production process.
  • Time saving: A PDM-enabled business model involves easy accessibility to data. The people involved don’t need to be dependent on paperwork which is way more taxing and time-consuming. Your team can update and analyze the reports on-the-go.
  • Team management: A cloud-based system such as PDM helps to keep everyone on the same page. This not only minimizes confusion but also enhances work efficiency among the team members. All of the records are saved so that none of the team members can play the blame game on anyone. 
  • Track design: PDM also makes the production process much more organized and risk-proof because all of the actions are trackable. This means anyone can edit, revise and make the changes to a Computer-Aided Designs of the engineering data and upload the new file preventing the use of the previous file.
  • Boost productivity: By now it is quite clear that PDM will help to boost productivity as all of the data can be stored on one platform. This makes data sharing, retrieving, filing and searching much simpler. This is a surefire technique to promote productivity without spending top dollars.

Get scalable and secured technology architecture with high availability, performance and expert support with the best custom application development in Michigan, IPS Technology Services. They offer engineering systems solutions such as Integrated Product Development, Process and Information Mapping, CAD/CAM/CAE, Product Data Management, ERP Consulting, ICRM, Supply Chain, DRP. Request for a free consultation here.

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