SUSTAINABLE BUSINESS SOLUTIONS THROUGH LEAN PRODUCT LIFECYCLE MANAGEMENT.

In today's process manufacturing environment, innovation is viewed as critical to sustainable growth and business profitability. While open innovation is regarded as the answer, the companies can effectively measure the return on R&D investment, have acceptable product success rates, achieve acceptable promotional effectiveness, or have visibility into their compliance risks or operational readiness for new product launches. While open innovation is an actual topic, capitalizing on the opportunity requires holistic strategy, not just increased collaboration. Companies must have repeatable, compliant and responsive business processes, global information infrastructure that provides a single source of the truth, alignment across departments and solutions that evolve without coding. With holistic strategy and supporting infrastructure, companies can consistently minimize the time to scale, improve product success rates and promotional effectiveness, and enjoy sustainable and profitable growth. With open innovation providing unlimited opportunities, the company should start to identify the best open innovation opportunity and deliver top and bottom line of the company's benefits. The companies must first focus on the needs of their customer, continually minimize time to scale, eliminate waste, drive out costs and improve. These are core concepts of a Lean strategy. This paper will describe how Lean concept with PLM business strategy can leverage Lean with integrated compliance, continual improvement and other PLM best practices to increase the return on R&D investments and provide sustainable and profitable growth for business processes mainly manufacturing processes. The purpose of this paper is to review PLM approach linked to Lean concepts in order to achieve sustainable and innovative business processes with sustainable and profitable growth. [ABSTRACT FROM AUTHOR]