Global industry study uncovers risks in supply networks

The study "The Future of Product Development - Product Lifecycle Management in Focus" reveals significant weaknesses in supply networks. The survey, commissioned by Aras, a provider of product lifecycle management and digital thread solutions, polled 656 executives from the US, Europe and Japan to find out how industrial companies are adapting their supply chains in the wake of digital transformation.

Inefficient tools in use

"Companies are keen to integrate their suppliers into digital processes. However, the reality is often different. Many still use inefficient tools that delay decisions and increase the susceptibility to errors in communication," says Jens Rollenmüller, Regional Vice President at Aras. According to the survey, 79 percent of companies share information about product design or technology with their suppliers, and 83 percent share compliance and sustainability data. However, the methods used give cause for concern: 52 percent rely on email and file sharing services, 49 percent on face-to-face meetings. Only 43 percent use digital collaboration platforms.

"Traditional methods of communication simply don't meet the demands of today's fast-paced business world," says industry expert Rollenmüller. "Companies need systems that enable the precise, seamless and secure exchange of information. Everyone involved must be able to rely on the data being up-to-date, correct and tamper-proof - and that no errors occur due to manual processing."

Digital collaboration as a competitive advantage

Nine out of ten respondents confirm that supply chain integration is central to their product lifecycle management and digital thread strategy. "An integrated supply chain not only reduces costs, but is also essential for business success in a world of increasing market volatility," explains Rollenmüller. Companies that break down data silos and exchange information in real time are better able to manage crises and meet customer needs in a more targeted manner. The early exchange of development data and strategic goals is becoming a decisive differentiator in highly competitive markets.

However, close integration also poses challenges: Companies must navigate the tension between strategic partnership and operational independence while coordinating heterogeneous IT landscapes and different corporate cultures. At the same time, the requirements for data protection and cyber security are becoming considerably more stringent as networking progresses.

PLM systems close the gap

To overcome these challenges and ensure security, Rollenmüller recommends the use of a PLM system (Product Lifecycle Management). Such a system manages product data centrally and offers network partners secure access to it. "PLM acts like an intelligent distribution node," explains Rollenmüller. "If a malfunction occurs, companies can react immediately with PLM because the data is structured and available at all times - and not buried in some email inbox." The practical benefits are obvious: "Every delay and every miscommunication in the supply chain causes direct costs in the form of production downtime, missed deadlines and angry customers. PLM gives companies the transparency they need and the tools to make quick, well-founded decisions."

"PLM creates trust in the supply network and fundamentally transforms the way companies work together," says Rollenmüller. "It eliminates time-consuming manual coordination, minimizes sources of error and strengthens operational resilience - a decisive competitive advantage in today's volatile markets.

Source: Aras

This article originally appeared on m-q.ch - https://www.m-q.ch/de/globale-industriestudie-deckt-risiken-in-liefernetzwerken-auf/