Supply chain and business transformation enabled by Oracle Fusion Cloud Product Lifecycle Management (PLM)

Leveraging tech for growth

The technology, media and telecommunications (TMT) sector is poised for transformation, turning challenges into opportunities for growth. PwC’s Next in TMT 2024 report on trends impacting the sector emphasizes the importance of reinventing business models and improving operations.

Embracing emerging technologies can unlock new value streams and foster trust among stakeholders, as confirmed by 93% of executives in the PwC 2023 Emerging Technologies survey. Top-performing companies recognize that transformation is necessary to outperform the competition and create lasting value. They focus on supply chain and business transformation in their digital transformation journey.

Business transformation

Adapting business models is crucial for survival in a rapidly evolving market. Reinventing your business model can help improve sustainability, operational efficiencies, speed, risk management and overall value. This transformation could require a shift from product-based to solution-based or subscription-based models. It involves re-architecting the foundational structure, with PLM playing a pivotal role as the central hub for product data across the value chain.

PLM enables seamless management and tracking of a product's lifecycle, integrating data sources and breaking down information silos. Cloud-based PLM is now poised to become the backbone of successful business transformation.

Benefits of transitioning PLM to the cloud

Supply chain transformation

Supply chain transformation is crucial for operational excellence in this era of rapid technological advancements and socio-political upheaval. Companies investing in modernizing their supply chains position themselves for resilience and informed decision-making. According to a Gartner® press release, “73% of average supply chain IT budget will be allocated to growth and performance”.¹

As the product is at the center of the supply chain, designing and managing it effectively becomes the foundation for digital transformation. We recommend investing in a connected applications platform for managing the complexities of the enterprise product record. Drawing from our extensive experience of facilitating over 100 PLM cloud transitions, Oracle Cloud PLM emerges as a leading solution that leverages digital threads to provide traceability and product data governance, creating an integrated view throughout the product's lifecycle. This unified approach addresses multiple perspectives across the value chain, from design and planning to procurement, manufacturing and services/support.

Threading it together

Digital threads are the interconnected flow of digital information throughout a product's entire lifecycle, facilitating transparency and collaboration across various stages. In PLM and supply chain, they connect data from design through services/support, enhancing visibility and decision-making.

_{Graphic Source: Gartner, Top BOM Practices for Building Digital Threads in Discrete Manufacturing Industries, 23 February 2023. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.}

Leading practices to transition PLM to cloud

Transitioning from on-premises PLM to cloud-based solutions is a key strategy for modernization and transformation. Careful planning is essential for a successful cloud-based PLM transformation. Neglecting considerations can potentially compromise business value and ROI. Addressing challenges with foresight and planning is crucial.

Explore leading practices to transition PLM to cloud for in-depth insights into mitigating risks during the implementation process so you can help improve sustainability, increase efficiencies, accelerate growth and reduce risks, contributing to lasting value and return on investment.

_{1. Gartner Press Release, Gartner Reveals the Top Supply Chain Technology Trends for 2023, May 10, 2023.}