In Product Lifecycle Management, classification is used to categorize product information to facilitate the efficient retrieval of the information either for re-use in new product initiatives or for reference later in the product lifecycle. The ability to quickly locate data for re-use can provide a positive impact on the product development process, and can be key to reaching product time-to-market and innovation goals. By enabling companies to manage previously designed, validated, and approved product data, classification can help expedite product development, reduce its cost, and build design intent and lessons learned into your new product initiatives. Furthermore, classification can also be used to enforce security requirements to fulfill regulations like ITAR. Additional benefits of classification are reduced rework, reduce the number of part introductions, reduced inventory, more volume discounts, and efficient part obsolescence processing.
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