A Review on Foundries Approaching Product Life Cycle Management: The Impact of Product Life Cycle Management on Foundries

Abstract

Original Equipment Manufacturers (OEMs) are immersed in an ocean of transformation since these industries are competing themselves with general challenges such as the invariable stress to innovate, virtual supply chain management, regulatory compliance and others. To contend in this challenging atmosphere these industries are using Product Lifecycle Management (PLM) solutions. Implementation of PLM has greatly enhanced the performance of OEMs to comply for globalization and enhance profitability. Although the suppliers to these OEMs like foundries are in threshold to get utilize to PLM solutions to remain in competitive world. Implementation of PLM has become inevitable for foundries to sustain and grow. This review article fundamentally portrays the benefits procured and improvements seen by some foundries after implementation of PLM, it also discuss about the chances of implementing the PLM in small scale and medium scale foundries.