4 Key Themes from PTC LiveWorx 2023

👋 The Convergence Data team recently attended the PTC LiveWorx 2023 conference in Boston last month. In case you missed the conference, here's a recap of some of the top themes that surfaced in the insightful presentations and discussions from the event:

▶️ Embracing the Digital Thread: The digital thread emerged as a recurring topic, highlighting its significance across many organizations (and diverse industries). However, its adoption requires a solid foundation of data classification. While recognizing the need to drive this strategy, many companies are still maturing in their ability to fully embrace it. To set out on the journey to digital thread, the strategy must begin with data classification supporting engineering, supply chain, sourcing and aftermarket ecommerce.

▶️ Findability of Purchased Parts: Another crucial theme focused on the findability of purchased parts for PLM. Establishing a foundational data taxonomy and enriched attribution profiles across part categories are prerequisites for achieving findability, promoting part reuse, and optimizing Engineering operations. Agile Product Development was a major theme this year, realizing you cant be agile if you cant find things.

▶️ Data Integration Across Divisions: Companies continue to navigate the complexities of data intersection across divisions such as Engineering, Procurement, Supply Chain, and eCommerce. Adopting a data-as-a-service approach enables seamless data integration, breaking down siloes and supporting new platform deployments and data migrations.

▶️ Onboarding Acquisition Data: Many companies have recently made acquisitions, necessitating the onboarding and reconciliation of acquisition data for a comprehensive merger into the corporate data landscape. Convergence Data specializes in this domain, offering expertise in onboarding acquisition data and ensuring a smooth integration process. Many companies we spoke to have not done the post merger data work keeping them from achieving value of working like one company.

As we reflect on our experiences and great discussions at PTC LiveWorx 2023, these key themes underscore the evolving landscape of digital transformation and the critical importance of parts classification, data management, integration, and strategy.

📣 If you didn’t get a chance to visit our booth at the conference (or didn’t attend), feel free to reach out to us if you need help with parts classification or would like to discuss your digital thread strategy.