Reducing Product Development Costs through a Product Platform Approach
The increase of product variations is driven by many forces and often comes at a high cost to manufacturers. The extra time, effort and expense required to design and deliver more product variations often have a negative impact that isn't confined to the manufacturing process.
This impact can extend across the supply chain, from the cost of extra parts inventory to the added burden on service and support organizations. Ultimately, it creates a drag on productivity, which impacts revenue and profitability, both directly and through lost opportunities.
Best-in-class manufacturers meet the challenges of diversity head-on with a consistent, product platform approach. This allows them to introduce more product variations, faster.
A Winning Strategy
Companies that have adopted a consistent approach to managing platforms are receiving numerous cost benefits, with up to 50% reductions in design and development costs and significant savings in manufacturing, sales and service. To learn how, read the article, with references to case studies and Frost & Sullivan research.
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Offering customers greater choice, and enabling the delivery of more targeted products to key market segments is a key objective for most manufacturers. But traditionally, product diversity has come at a high cost because manufacturers lack the means to manage the process effectively and efficiently. See how implementing a product platform approach has helped these global manufacturers face the challenges of product diversity.
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The Value of a Platform Strategy
Product diversity can be a powerful growth driver, but manufacturers need to manage the complexity that comes with it. Managing diversity with a consistent product platform approach enables companies to achieve product diversity with scale — resulting in cost savings for their organization and their customers.
This PTC white paper illustrates how a global platform strategy can overcome the challenges of managing product diversity.
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