Product Lifecycle Management Training

Training Product Lifecycle Management (PLM)

Managing product development from design through the end of service life allows product managers to use business systems that integrate data and processes to enable effective support. Product life cycle management, or PLM, training teaches product managers to integrate engineering, manufacturing, sales, marketing and other departments in order to streamline processes. Learning to study data such as spare part usage and customer satisfaction logs and make analytical decisions enables ongoing product quality.

Benefits

Upon completion, product life cycle management training participants typically can assess, plan and monitor a product life cycle within their company. In addition, they develop the skills to evaluate existing processes to align them with emerging industry best practices. Collaborating with other students enables participants to make connections necessary to develop working partnerships necessary for successful businesses in the global marketplace. Additionally, students can conduct product management audits to determine the team’s strengths and weaknesses, ensure team readiness and supply chain effectiveness.

Courses Outline

Module

Short Description

Duration (hours)

Day 1

Product strategy, innovation, product maturity and exitDevelopment of product strategy, key factors in innovation, competition activity and customer preferences.

2

Competitive and market reviewsOngoing market reviews in relation to existing product portfolios, trends analysis, impact of competitive activity

2

Portfolio management & planningProduct portfolio positioning, market and segment analysis, competition position, portfolio planing

2

Customer managementManagement of customer opportunities, customer satisfaction

1

Day 2

Product cost managementProduct cost components, COGS, direct costs, indirect costs, cost model development, practical examples and review

2

Product price managementMarket based pricing concept, components in pricing, competitive pricing review, internal costs inputs, value proposition and strength

2

Product performance managementOngoing product performance metrics, EBIT, ROI, profitability, customer satisfaction measures. Service levels (SLA) design methodology and impact on customer satisfaction.

2

Other tools and tipsLeadership and staff choice, KPI development, portfolio planning, marketing planning and budget

1

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