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The Importance of Compliance Management in PLM integration

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It is possible to derive value from Product Lifecycle Management (PLM) solutions in a variety of ways, including: faster introduction of products; lower cost of products; increased product sales; higher product quality; reduced waste; and more valuable product portfolios. However, compliance management is one area that does not receive nearly as much attention as it should. The difficulty with failing to manage compliance is that a substantial portion of the value associated with Product Lifecycle Management is dependent on handling compliance in a cost-effective manner. On the other hand, substantial non-compliance incidents that have a negative impact on the business through fines and penalties, unfavorable publicity, or the inability to sell new products in important markets, which may swiftly undo all of the benefits gained through PLM. Although compliance risk is not a widely discussed topic, it is vital to the creation and selling of successful products, as well as to the achievement of responsible, long-term business profitability.

Topics: Oracle PLM Cloud, GoSaaS EG&C, regulatory compliance