SUSTAINABILITY – PLM

Tackling Scope 1 & 2 emissions PTC hosts a portfolio of software solutions that manage data throughout a product ’ s lifecycle – driving excellence in engineering and design , efficiency in manufacturing and supply chain and optimisation in operations and services . PTC has worked with Volvo , Polaris and Schneider Electric . While not a Fortune 500 company , 95 % of Fortune 500 discrete manufacturing companies use PTC ’ s software .

For Scope 2 emissions , which involve purchased electricity , heat or steam , PLM systems contribute to transformative change in supply chains .

Dave believes PLM systems can drive supplier improvement in Scope 2 emissions : “ PLM tools can integrate to material and component supplier catalogues .

“ Increasingly , these catalogues indicate overall carbon footprint of the materials or components , but generally at the Scope 3 level , which embed supplier Scope 2 but not exclusively .

of studies on environmental , social and governance factors show that brands with higher ESG scores have a lower cost of capital

“ To push a supplier to specifically reduce Scope 2 , this is done with sourcing policies for Science-Based Targets ( SBT ) commitments . PLM users in turn receive SBT-committed suppliers as ‘ approved ’ or ‘ preferred ’ in their interfaces . These SBT commitments effectively require rapid Scope 2 improvement by 2030 through renewable electricity purchases .”

The Rise of Closed-Loop PLM Research indicates a seismic shift in the machinery industry ’ s approach to PLM , with a growing number of companies embracing closedloop systems .

According to Bain ’ s Global Machinery & Equipment Report 2024 , the adoption of closed-loop PLM has emerged as a strategic imperative , with leading companies reporting significant reductions in time to market .

Statistics paint a compelling picture of this trend , with over 70 % of machinery customers expressing a desire for more personalised or customised products compared to three years ago .

This evolving customer landscape has spurred machinery executives to prioritise closed-loop PLM , recognising its potential to meet these heightened expectations while driving operational excellence .

Joshua Hinkel , Partner at Bain & Company , spoke during the company ’ s 2024 webinar on the report , he said : “ In almost all industries , our linear business models and supply chains consume about 1.75 times the Earth ’ s

128 November 2024