Philips: Improving Lives through Meaningful Innovation
January 21, 2014
To drive innovation, Philips is undergoing a global transformation to put the right product information in the hands of the teams who need it, across Engineering, Sales, Service, and Marketing.
Philips is in the middle of a business transformation, where the focus of the business is on the customer, rather than the product. With over 100,000 employees worldwide, helping to generate over $30B in annual revenue, Philips must maintain close coordination within and across their various business units.
Collaboration is an easy concept to advocate within any modern business. But enabling true collaboration requires change across teams, processes, and technology. Through their common PLM program, each business unit – Healthcare, Lighting, and Consumer Lifestyle – is able to actively share product ideas, designs, and product development processes, thereby reducing the time it takes to get new products to market.
Beyond innovation also lie the challenges of serving customers across continents, each with their own specific product requirements. Managing product variants is an essential process that is made more efficient by their PLM journey; enabling engineers to find the part and product designs they need to innovate and improve.
Leaders at Philips know that the company’s mission to improve people’s lives requires a collaborative approach to innovation and product development. Fulfilling that mission is what drives everyone at Philips to achieve product advantage in the global marketplace.