What’s the Difference between PLM, CPQ and Product Planning Software?

Design Insights: Beyond Collaboration Tools; Collaborate at IDEA!

April 6, 2021
A review of the day’s top trending stories from Machine Design editors.

Beyond Collaboration “Tools”

As a recent Machine Design article notes, the use of software for product lifecycle management (PLM) and to configure price quotes (CPQ) help product planners align and define the steps needed to take a product through manufacturing.

As noted by article author Maziar Adl, CTO of software developer Gocious, “CPQ is valuable in later project development stages to make sales efficient. PLM, on the other hand, is best used in the design and development stages by engineers and designers.

“The accuracy of CPQ software should let it deliver significant return on investment for all types of manufacturers,” he adds. “Quick quotes, customization options—like designs built to spec—and collaboration tools increases efficiency and foster better cooperation between teams.”

One key here is that software is a tool to enable collaboration and cooperation. It isn’t the collaboration itself. That’s still a personal interaction, even at social distances.

Collaborate at IDEA! Conference

Speaking of collaboration, Machine Design’s Industrial Design, Engineering & Automation Show (IDEA!) will be Nov. 9-12 in Cleveland. Held in conjunction with IndustryWeek’s M&T Show, IDEA! will offer cutting-edge speakers focused on advanced manufacturing, IoT, motion control and power systems, and more. We’ll also present the first IDEA! Awards for product innovation and convene our Women In Science & Engineering luncheon panel to discuss opportunities and challenges for women in engineering fields.

Registration is now open, and exhibitors can reserve their floor space as well. Collaboration is returning, little by little, and we hope for a lot of collaboration at IDEA!.

Sponsored Recommendations

How BASF turns data into savings

May 7, 2024
BASF continuously monitors the health of 63 substation assets — with Schneider’s Service Bureau and EcoStruxure™ Asset Advisor. ►Learn More: https://www.schn...

Agile design thinking: A key to operation-level digital transformation acceleration

May 7, 2024
Digital transformation, aided by agile design thinking, can reduce obstacles to change. Learn about 3 steps that can guide success.

Can new digital medium voltage circuit breakers help facilities reduce their carbon footprint?

May 7, 2024
Find out how facility managers can easily monitor energy usage to create a sustainable, decarbonized environment using digital MV circuit breakers.

The Digital Thread: End-to-End Data-Driven Manufacturing

May 1, 2024
Creating a Digital Thread by harnessing end-to-end manufacturing data is providing unprecedented opportunities to create efficiencies in the world of manufacturing.

Voice your opinion!

To join the conversation, and become an exclusive member of Machine Design, create an account today!