PTC Introduces Breakthrough Digital Performance Management Solution to Drive Manufacturing Efficiency

Rhea-AI Summary

PTC has launched the ThingWorx Digital Performance Management Solution (DPM) at the Manufacturing Live virtual event, aimed at enhancing efficiency for manufacturing companies. This unique offering allows real-time performance insights, simplifying complex data into easily understandable hours for all levels of staff. It aids with identifying production bottlenecks and validating transformation outcomes through real-time data. The company positions this software as a significant step in its IIoT growth strategy, promising rapid results within 90 days.

Positive

• Launch of ThingWorx DPM represents a significant innovation in manufacturing efficiency.
• Provides real-time insights and actionable metrics for performance improvement.
• Supports investment accountability and validates transformational outcomes with real-time data.
• Rapid implementation with potential initial results within 90 days.

Negative

• None.

BOSTON, Oct. 28, 2021 /PRNewswire/ -- From the stage of the Manufacturing Live virtual event, PTC (NASDAQ: PTC) today announced the immediate availability of the new ThingWorx® Digital Performance Management Solution (DPM), a first-of-its-kind offering that represents a significant advancement in manufacturing companies' ability to drive efficiency.

DPM provides performance insights and enables real-time, closed-loop problem solving.  It delivers one universal view of performance, communicated in an understandable business metric: hours.  This metric is easily understood across frontline workers, managers, and executives, and provides a foundation for an enterprise-scale solution.  DPM supports investment accountability by validating outcomes for transformational investments with real-time production data and easy-to-calculate financial improvements.

"Manufacturers consider digital transformation essential, yet often see only incremental improvements as opposed to large-scale transformational improvements," said Craig Melrose, EVP, Digital Transformation Solutions, PTC.  "PTC's new ThingWorx DPM Solution enables companies to address the most valuable manufacturing improvements and solve common challenges to drive manufacturing efficiency and transformation at scale."

With DPM, companies can identify the right performance issues to drive efficiency; empower frontline workers to take corrective action; gain visibility into bottlenecks, root causes, and the most critical areas to focus on for improvement; measure results with performance data to ensure actions produce the desired outcomes; and achieve rapid time to value and scale, with initial results in as little as 90 days.

"All our manufacturing clients, regardless of industry, face the constant challenge of identifying and quickly eliminating production bottlenecks," said Jerry Gootee, Global Advanced Manufacturing Sector Leader with Ernst & Young (EY). "The market needs a scalable technology solution that can systematically and dynamically identify production constraints, prioritize root causes, recommend and manage corrective actions, and validate outcomes measured as new production hours of capacity."

"The release of PTC's ThingWorx DPM Solution represents a significant milestone in our IIoT business," said Jim Heppelmann, President & CEO, PTC.  "This software marks the beginning of a new phase in PTC's IIoT growth strategy as we evolve our positioning of ThingWorx as a suite of powerful enterprise solutions that power significant enterprise efficiency to drive business value."

About PTC (NASDAQ: PTC)
PTC enables global manufacturers to realize double-digit impact with software solutions that enable them to accelerate product and service innovation, improve operational efficiency, and increase workforce productivity. In combination with an extensive partner network, PTC provides customers flexibility in how its technology can be deployed to drive digital transformation – on premises, in the cloud, or via its pure SaaS platform. At PTC, we don't just imagine a better world, we enable it.

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Media Contacts 
PTC 
Corporate Communications 
Gabrielle Farrell 
gfarrell@ptc.com

PTC, ThingWorx, and the PTC logo are trademarks or registered trademarks of PTC Inc. and/or its subsidiaries in the United States and other countries.

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SOURCE PTC Inc.

FAQ

What is the new product launched by PTC?

PTC launched the ThingWorx Digital Performance Management Solution (DPM) to enhance manufacturing efficiency.

When was the ThingWorx DPM Solution announced?

The ThingWorx DPM Solution was announced on October 28, 2021.

How does the ThingWorx DPM Solution help manufacturers?

It provides real-time performance insights, identifies bottlenecks, and enables corrective actions to improve efficiency.

What is PTC's focus with the launch of ThingWorx DPM?

PTC aims to drive transformational improvements in manufacturing efficiency and support their IIoT growth strategy.

What benefits does ThingWorx DPM provide to its users?

It offers investment accountability and rapid time to value, with measurable results in as little as 90 days.