{"id":3245,"date":"2018-01-03T14:00:34","date_gmt":"2018-01-03T13:00:34","guid":{"rendered":"https:\/\/www.specpage.com\/?p=3245"},"modified":"2019-01-14T12:08:56","modified_gmt":"2019-01-14T11:08:56","slug":"food-label-digitization","status":"publish","type":"post","link":"https:\/\/www.specpage.com\/food-label-digitization\/","title":{"rendered":"PLM: A Key Enabler for Food Label Digitization (Part I)"},"content":{"rendered":"
\n\t\t\t\t\t
\n\t\t\t\t\t\t

Product lifecycle management (PLM)<\/a> is a strategic approach that applies a consistent set of business solutions by supporting the creative collaboration, management, dissemination and the use of product definition information across the extended enterprise from the concept stage throughout its entire life span\u2013 integrating people, processes, business systems, and information.<\/p>\n

PLM is more than a technology; it is the convergence of various technologies, methods, best practices and functions, including product data management (PDM<\/a>), simulation and analysis (S&A), computer-aided design (CAD), digital manufacturing, predictive engineering analytics and manufacturing operations management (MOM). The \u2018Product\u2019 encompasses a wide variety of physical items, services and\/or systems.<\/p>\n

Growth in the PLM software market has traditionally been driven by food and beverage, apparel, retail, finance and investment, and government. Utilities, construction, petrochemicals, and infrastructure are also key market drivers. CIMdata forecasts a compounded annual growth rate (CAGR) of the PLM market at 6.7% to $56.3 billion by 2021.<\/p>\n

Benefits of PLM<\/h2>\n

PLM solutions provide a product information backbone that proactively supports the data requirements of processes, systems and people along the product lifecycle and across the organisation. The benefits of having a single system of record based on a collaborative framework are many. Broadly, the advantages of PLM solutions can be enumerated as follows:<\/p>\n