Keeping up (or ahead) of your customers is one of the most difficult challenges facing your product development teams. But your company's growth depends on how quickly you can come up with and commercialize the ideas that your customers want and value. That's why we recently launched the demo series Move Your Supply Chain Forward, where you can see how Oracle's cloud solutions deliver the capabilities that your product development,supply chain and manufacturing teams need to create and launch new products and services-whether it's capturing ideas that meet customer requirements, forecasting demand for new offerings, or collaborating with suppliers on new innovations. In the first live demo of the series, Darren Conrad and I showed you how Oracle Cloud Product Lifecycle Management (PLM) provides the structure and data needed to support an end-to-end innovation process, from initial idea to commercialization.
Often, the challenge we see that many companies face when innovating new products or services is that they are using outdated and engineering centric PLM systems that can make the entire product development process slow and tedious. The problem is that these systems weren't designed to meet the digital requirements for today's innovation processes-they do a poor job at managing global product launches and can't support new offerings like products-as-a-service.
But with Oracle Cloud PLM you can accelerate new product development and introduction from inception to product launch by unifying the data and processes that go in to innovation. Many of our customers, like Thermo Fisher Scientific, are using our PLM software to dramatically increase their speed to market. In our demo, we talked about a few key ways to leverage Oracle Cloud PLM for successful product and service innovation.