The Economic Side of PLM

<p><span style="font-weight: 400;">As prices for just about everything continue to rise, sustainability is earning it’s place in the spotlight over efficiency. PLM may indicate whether a product is created more efficiency, but is it a product that should be created in the first place? Products that don’t incorporate sustainability have been facing greater scrutiny in recent years, and today’s guest would argue that there is a better way to think about PLM.  On this episode of The Digital Enterprise Society podcast, Thom Singer and Craig Brown welcome back Patrick Hillberg for a conversation about the economic side of product development. </span></p> <p> </p> <p><span style="font-weight: 400;">On today’s podcast, you will learn:</span></p> <p> </p> <p><strong>What drives economies? </strong></p> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">What would happen if the demand for oil diminished greatly?  $100 per gallon oil would drastically change the demand for oil. </span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Externalities are the costs associated with a transaction that are not borne by the producer or the consumer. </span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">As our understanding of our impact increases, externalities also increase in their effect. </span></li> </ul> <p> </p> <p><strong>Increasing sustainability in PLM</strong></p> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Most leaders agree that sustainability needs to be addressed. </span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Redefining PLM is a critical step to incorporating sustainability as PLM doesn’t tell you if you’re making the wrong product. </span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">PLM only helps with improving the efficiency of whatever product you’re making. </span></li> <li style="font-wei