How does Goodrich measure success in product lifecycle management?

Goodrich Corporation employs a multifaceted approach to measure success in product lifecycle management (PLM). The emphasis is placed on various key performance indicators that collectively ensure the effectiveness of their strategies and operations throughout the entire lifecycle of a product. One significant aspect is the alignment of product development with customer needs and market demands, which is assessed through customer feedback, satisfaction surveys, and market research data. Additionally, Goodrich evaluates the efficiency of its processes by tracking development timelines and costs associated with each phase of the product lifecycle. This includes measuring metrics such as time to market, production costs, and return on investment, which are essential in understanding how well resources are utilized. Quality assurance is another critical component of measuring success, where Goodrich focuses on product reliability and performance. They monitor failure rates and conduct rigorous testing to ensure that their products meet industry standards. Ultimately, by analyzing these diverse metrics, Goodrich aims to achieve not only operational excellence but also sustainable competitiveness in the aerospace and defense sectors. For further insights into their tailored PLM strategies and practices, it may be beneficial to consult their official website for the most current information.