Manufacturers today are facing
significantly stalled markets as a
result of the current, global
economic downturn. Many companies
are experiencing weak demand and
lower sales, and reacting with
budget cuts and other efforts to
reduce cost. This can have a
particularly large impact on small
to mid-size manufacturers that have
to make difficult trade-offs between
product innovation and cost control.
During this time, it is important to
recognize that despite the reality
of reduced budgets, companies that
continue to invest in innovation
and improve PLM capabilities will fare better during the economic
downturn and beyond. This paper is
aimed at helping companies develop
an action plan that both recognizes
the difficult reality that most
manufacturers face today, and allows
them to continue to invest in the
future. Keeping these two priorities
in mind will help these smaller
manufacturers weather the current
economic storm but also be prepared
to capitalize on emerging markets
during the eventual recovery.