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Global Product Life Cycle Management

Global Product Life Cycle Management

Abstract

Hi-Technology Product companies in the 21st century are facing new challenges from global players altering the landscape of competition. Disruptive innovations are happening in incremental timeframes and customers are demanding higher quality products at price points lower than yesterday’s costs. Although the pace of innovation and improved quality has increased the life of products, it has also reduced their life in the marketplace leading to long and expensive end of life cycle phases. Customers are demanding more value for their capital investments through product enhancements and uninterrupted support while competitors are developing products based on newer technologies. The company’s most valuable assets, the employees, meanwhile are getting demotivated having to work on the same product for multiple years while the industry is moving ahead with newer technologies. 

Excerpts from the Paper
Some companies’ expectations of their product development partners overtime have changed from design and engineering milestones to overall success of the product in the marketplace. They have embraced the risks of globalization (geopolitical, investment, IP protection and increased complexity), managed them well with their partners and realized the benefits of such global partnerships such as increased flexibility and speed of response to market changes and fluctuating business cycles, innovation and R&D capabilities beyond the walls of the company, re-deploying the company’s workforce to core business areas and managing lean and profitable product portfolios with few or no cash dogs.
HCL has worked with product engineering companies for over three decades co-creating successful products across geographies. We have leveraged our experiences and research to develop a product development ecosystem comprising technology alliances, product testing and certification facilities, prototyping and simulation facilities, manufacturing partnerships and tie-ups with COTS component manufacturers.

 

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