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This shows that even smaller companies or companies outside the European Union need to think about their sustainability data – even if they are not affected by the EU reporting obligation. And this is where Product Lifecycle Management (PLM) comes into play. Sustainability and the circular economy require an effective PLM strategy, because they demand a holistic view of the entire value chain.
Looking at product life cycles through a sustainability lens is a challenge in industry. An effective PLM strategy are ideal for that since they meet the basic requirement of CO2 balance sheets through their parts lists alone: transparency. After all, for sustainability, the components and raw materials from which products are made must be known.
The Circular Economy (CE) is about conserving resources and energy, avoiding waste, and establishing material cycles. In contrast to the current “throwaway economy,” the circular economy is based on nature as the role model. Three principles apply here:
Ultimately, it must be possible for all customers to return a product to the manufacturer even after years or decades. To put it somewhat bluntly: If a product ends up in landfill at the end of its lifecycle, it has been developed incorrectly and is not suitable for the circular economy. Such problems can be avoided with an effective PLM strategy.
The numerous requirements relating to sustainability clearly show that holistic Product Lifecycle Management with a corresponding effective PLM strategy is one of the new core applications. Planning and process-oriented ERP solutions will not be sufficient to meet the various transparency obligations.
An effective PLM strategy is the prerequisite for sustainability management with an impact on the carbon footprint of the entire company. Schedule a consultation.
