Jason Voiovich, Chief Customer OfficerMost people think that Product Lifecycle Management (PLM) is a software or a business issue. But actually, organizational culture is the single biggest driving force behind PLM success or failure. The emergence of the Internet of Things (IoT) and smart, digital products are necessitating companies to acquire a PLM approach to the product development process. Why? More internal stakeholders are involved in PLM than ever before. For example, with smart products communicating to a cloud data infrastructure, IT is now involved in the product management process. Therefore, the challenge lies in departments’ difficulty to engage and integrate with processes they have never worked on before. To grease the wheels of this cultural shift, Minneapolis, MN based Logic PD collaborates with clients throughout their complete product lifecycle to accelerate their growth and capture value. “We help our clients develop, launch and manage the next generation of products and specialize in helping them understand their business, user, and technology needs,” says Jason Voiovich, Chief Customer Officer, Logic PD.
The 56-year old company places a large emphasis on data as part of its three-phased approach to product lifecycle management. “It is important for data to be considered at each stage of the product lifecycle,” asserts Voiovich. Logic PD’s PLM approach begins with the roadmapping phase where high level concepts are generated by examining market and industry trends, user requirements and technology considerations. Following roadmapping is the development phase where the technical solution and product is realized. Finally, Logic PD’s fulfillment phase helps companies shift their focus to long-term profitability after the product has entered the market.
We are a one stop shop for clients with services from product ideation to end of life
The company’s integrated approach towards PLM gives a leading edge to a number of medical, industrial, and aerospace customers as those industries move towards virtualization. “We are a one stop shop for clients with services from product ideation to end of life,” points out Voiovich. Logic PD’s prowess lies in fulfilling the specific requirements of the highly regulated industries it serves.
For instance, Logic PD helped one of its medical clients shift from selling lab equipment to a leasing model selling testing consumables and finally to selling lab performance. The challenge that Logic PD solved was how to get real-time product use data in the field to help the client monitor and predict the performance needs of its customers. “Our role in helping them was to analyze the use cases doing both quantitative and qualitative research to give them the data required to move from a fixed cost to a variable costs model,” says Voiovich.
Further, to help others better leverage smart products and digital business models, Logic PD is launching a self-paced, online curriculum. The curriculum helps participants learn how to fuel growth and maintain a sustainable competitive advantage by meeting user needs with smart product features and data processing.