Published: Aug. 17, 2022, 8 a.m.
As prices for just about everything continue to rise, sustainability is earning it\u2019s place in the spotlight over efficiency. PLM may indicate whether a product is created more efficiency, but is it a product that should be created in the first place? Products that don\u2019t incorporate sustainability have been facing greater scrutiny in recent years, and today\u2019s guest would argue that there is a better way to think about PLM.\xa0 On this episode of The Digital Enterprise Society podcast, Thom Singer and Craig Brown welcome back Patrick Hillberg for a conversation about the economic side of product development.\xa0
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On today\u2019s podcast, you will learn:
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What drives economies?\xa0
- What would happen if the demand for oil diminished greatly?\xa0 $100 per gallon oil would drastically change the demand for oil.\xa0
- Externalities are the costs associated with a transaction that are not borne by the producer or the consumer.\xa0
- As our understanding of our impact increases, externalities also increase in their effect.\xa0
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Increasing sustainability in PLM
- Most leaders agree that sustainability needs to be addressed.\xa0
- Redefining PLM is a critical step to incorporating sustainability as PLM doesn\u2019t tell you if you\u2019re making the wrong product.\xa0
- PLM only helps with improving the efficiency of whatever product you\u2019re making.\xa0
- Digital disruptions caused by the pandemic- and Zoom specifically- have improved efficiency.\xa0
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How do disruptions change PLM?
- MPL- managing product lifecycle- might be a superior approach than PLM.\xa0
- This approach focuses more on creating products that bring the greatest value to society.\xa0
- PLM has become a very technical topic that often misses the business aspect.\xa0
- Fossil fuels and batteries are an example of PLM disruptions.\xa0
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Engineering toward sustainability
- The skills of digital engineering are transferable, and can be redirected toward more sustainable efforts.\xa0
- The electronic and mechanical worlds are intersecting as both are working toward greater sustainability.\xa0
- Patrick\u2019s new paper, \u201cWhat if gasoline were $100?\u201d argues that high density power might not be available and that we should start thinking about correcting for it now.\xa0
- Efficiency often misses out on innovation and resilience, a problem that digital factory twins can help resolve.\xa0
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Continue the conversation with us within the Digital Enterprise Society Community at DigitalEnterpriseSociety.org.
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