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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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