PLM master data is the data that provides an umbrella structure for all the engineering, manufacturing and quality processes of a product. It serves as a hub, through which all product-related information is managed and monitored.
PLM master data includes information such as part numbers, product hierarchies, components, technical documents, CAD models, BOM and ECO documents. It also contains non-technical information such as liability statements, compliance documents, and other process notes.
Below are a few points that explain why PLM master data is important:
Improve product development process: PLM master data is the basis for product data management and sets the stage for efficient product design and validation. It allows for solving problems before they crop up and also helps in remote collaboration.
Faster product launch: PLM master data helps organizations to optimize and accelerate new product development and launch processes. This helps to improve time-to-market and eventually improving their competitive advantage.
Streamline supply chain processes: PLM master data helps in managing supplier relationships more efficiently. Organizations can track material availability and delivery in real-time with the help of PLM master data.
Reduce cost: Automating product data management by using PLM master data helps organizations to save time, money and resources. Standardizing processes and producing accurate data also leads to fewer mistakes, which in turn reduces cost.
Therefore, PLM master data plays a vital role in streamlining and standardizing the product development processes and making them more efficient.
For more details and examples, you can refer to this article: https://www.accenture.com/us-en/insights/supply-chain/plm-master-data-organization-product-lifecycle-management
