Product Strategy & Lifecycle Management has been saved
Product Strategy & Lifecycle Management
Accelerate your digital Product Lifecycle Management transformation
Many of today’s leading businesses understand that developing new products and managing the existing product portfolio has become increasingly complex. They recognize the need to leverage digital technology to innovate, collaborate, and launch new products, where at the same time digital initiatives can be used to optimize the existing product portfolio.
At Deloitte, we can help by strategizing and transforming the product lifecycle management capabilities through leveraging digital technologies to increase the efficiency and effectiveness in how to design, develop, integrate, make and support new and existing products.
Product complexity is growing rapidly and almost 80 percent of product costs and reusability potential are determined in product development. Consequently, there has never been a greater need for product development to prepare and simulate all the steps in the value chain. By using highly customizable models and digital twins, you can constantly optimize your products’ performance throughout the entire chain.
Due to the increasing pace of digital innovations, the possibilities to support the decision making process during the product lifecycle are enormous. However, you should know which information to use during the lifecycle of a product. Questions that arise in the PS&LM domain: How to define digital right? What are the right products for our business? How to design the product right? And how to manage the product right during its entire lifecycle?
These questions come during different phases of the product lifecycle. Our services aim to get the optimal answer to these questions during different phases of the cashflow curve of a product spanning the complete product lifecycle.
- Digital Product Core Strategy to define digital right
- Product Portfolio & Complexity Management to select the right product and manage your existing product portfolio
- Model Based to design the product right
- Product Configuration Management to manage the product right during the complete lifecycle
Bottom-line benefits when applying Product Lifecycle Management efficiently
- Translate business strategy to digital strategy – Digital Twin and Thread simulation for better decision making
- Rationalize and refocus product portfolio – Value of projects vs. allocation of resource
- Reduce development costs – More efficient and streamlined cross-organization development process
- Improve time to volume – Facilitate faster volume production
- Shorten time to market – Facilitate faster NPI process
- Reduced cost of rework – Less rework cost by designing the product right
- Maximize sales – More sales due to better decision making and portfolio management
- Stretch sales – Product updates to lengthen lifecycle
- Pro-active exit decisions – Phase-out timed with introduction of successive product(s)
Digital Product Strategy and Lifecycle Management
Deloitte can help you to accelerate your PS&LM strategy and transformations. By using innovative and disruptive technologies, Product Lifecycle Management can be enabled into an End-to-End connected network, which can serve as a powerful competitive weapon. We can help you with the evolution from products to platforms while dealing with the rapid complexity growth within your business. In addition, we help transforming from a siloed approach towards physical systems that are highly customized, adaptive and use digital twin models in order to constantly optimize performance towards task and environment.
Deloitte is helping businesses to innovative and to bring their visions to life. What is your digital vision? Contact us to learn more about how to leverage digital technology to optimize your Product Strategy and Lifecycle Management process.