A Guide to Common Technology Acronyms for Industrial Software

Acronyms like PLM, CAD, AI, and more are commonly used to describe some of the technology behind industrial software solutions. Yet new technologies and new terminology emerges everyday, and it can be difficult to keep track of all the definitions. What does each acronym mean and how can companies use different combinations of these technologies to push digital transformation forward? Read on to learn about some of the most frequently used technology acronyms and where each fits into PTC's comprehensive portfolio of digital transformation solutions.

PLM: Product lifecycle management

PLM software lets users efficiently manage product-related data throughout the entirety of a product’s lifecycle. Product companies use PLM software to manage product requirements, configurations, bills of materials (BOMs), quality information, engineering changes, manufacturing and service processes, and more. PLM is a critical tool for minimizing friction and complexity across product development processes, ensuring compliance with quality standards and regulations, and driving collaboration across teams, departments, and suppliers.

PTC is the leading company for product lifecycle management software, with a portfolio of PLM solutions that includes:

• Windchill: The industry-leading enterprise PLM solution for real-time information sharing, dynamic data visualization, and easy, secure access to product data for multi-disciplinary and geographically distributed teams.
• Arena: The industry leading cloud-native PLM and quality management solution (QMS) that brings product information, people, and processes into a single cloud-based system to help you design, produce, and deliver innovative products across dispersed teams.
• FlexPLM: A retail PLM solution that enables retail and consumer goods companies to plan, design, develop, and source products on-time, on-trend, and on-cost.

Enterprise PLM software provides the foundation for a digital thread, an essential enabler of digital transformation that helps product companies deliver a reliable flow of interconnected product data for stakeholders across their organization.

Additional acronyms related to PLM:

• ERP: Enterprise Resource Planning
• MES: Manufacturing Execution System
• MBSE: Model-Based Systems Engineering
• PDM: Product Data Management
• QMS: Quality Management System
  
  

ALM: Application lifecycle management

Application lifecycle management refers to the process of managing software requirements, test assets, and software releases throughout the software lifecycle or product lifecycle. ALM helps product companies deliver high-quality software faster, cheaper, and more reliably. Together, ALM and PLM empower companies to manage their complete product portfolio.

PTC's application lifecycle management solutions include:

• Codebeamer: Our robust ALM platform for advanced product and software development enables the complete management of software requirements, testing, quality, and compliance, as well as the integration of software and hardware development.
• PTC Modeler: A systems engineering solution that helps engineers who work on systems, software, and product lines make consistent, high-quality models so they can communicate requirements, identify key functions, and compare design options.
• pure::variants: Our product line engineering (PLE) solution connects to Codebeamer to manage variability across engineering assets and ensure consistency across product variants.
  
  

CAD: Computer-aided design

CAD refers to product design and development tools which enable users to create 2D and 3D models of parts and products before they’re ever manufactured. Design engineering teams use CAD software for parametric modeling, simulation and analysis, and product documentation.

PTC has nearly 40 years of experience as a leader and innovator in computer-aided design, with a range of advanced and easy-to-use CAD solutions that includes:

• Creo: Our 3D CAD solution uses parametric, direct, and freeform modeling to create 3D models while offering simulation and generative design capabilities to optimize product designs for weight, performance, cost, sustainability, and other requirements.
• Onshape: Our cloud-native CAD platform supports agile product development with professional-grade CAD capabilities and next-generation product data management.
• MathCAD: A CAD solution for engineers to perform and document engineering calculations with natural math notation and integrate calculations with 3D models.

As main sources of data related to the design and engineering of products, CAD and PLM solutions often complement each other to help companies organize, store, access, and share product data such as 3D models, drawings, specifications, and documents, while ensuring that all product-related data is accurate, secure, and traceable.

Additional acronyms related to CAD:

• CAE: Computer-Aided Engineering
• CAM: Computer-Aided Manufacturing
• MBD: Model-Based Definition
  
  

SLM: Service lifecycle management

Service lifecycle management is the practice of managing information and workflows related to the coordination of service parts, technical communication, field service, and product support. SLM solutions help product companies take an asset-centric approach to service operations to ensure that customers experience maximum uptime.

SLM and PLM complement each other to help companies control costs, speed time to market, and improve quality and compliance. PTC's purpose-built SLM solutions include:

• ServiceMax: A portfolio of field service management solutions for scheduling, dispatching, and tracking field service technicians and managing work orders, contracts, warranties, and assets.
• Servigistics: Our AI-powered service parts management solution for forecasting, planning, sourcing, and distributing service parts while optimizing for inventory, availability, and costs.
• Arbortext: An end-to-end dynamic publishing solution that streamlines the creation, management, and delivery of technical publications.
• iWarranty: Our warrant management solution for streamlining and automating warranty management.
  
  

IIoT: Industrial internet of things

The industrial internet of things (IIoT) is a foundational Industry 4.0 technology that connects, communicates, and exchanges data between physical devices, machines, and systems within industrial settings. Product companies are using IIoT software to connect their people, products, and processes so they can identify efficiency improvements, reduce costs, and boost customer satisfaction.

PTC's industrial IoT solutions include:

• ThingWorx: Our industrial IoT platform for developing and deploying applications which help companies connect, collect, analyze, and act on data from various devices, machines, and systems.
• ThingWorx Navigate: An enterprise collaboration solution that provides users across the extended enterprise with real-time access to contextualized product information using role, task-based, or customized PLM apps.
• Digital Performance Management (DPM): A smart manufacturing solution that identifies and analyzes production bottlenecks to help manufacturers prioritize the most meaningful continuous improvement opportunities.
• Kepware: Our industry-leading portfolio of industrial connectivity solutions for connecting, managing, and securing industrial automation data from various industrial protocols, devices, and systems.
  
  

AR: Augmented reality

Augmented reality is an immersive visual technology for overlaying digital information on top of the real world to improve how people interact with products, processes, and work environments. Product companies are using AR software to create, publish, and access AR content – such as digital work instructions – across mobile devices, tablets, headsets, and eyewear.

PTC’s Vuforia enterprise AR platform includes solutions such as:

• Vuforia Expert Capture: An AR solution for creating, delivering, and scaling interactive work instructions and AI-enhanced quality inspection workflows using video captures, 3D CAD, and expert knowledge.
• Vuforia Studio: An AR solution for transforming CAD models, 3D animations, and IoT data into detailed AR experiences for frontline workers and customers.
• Vuforia Engine: A flexible, advanced software development kit (SDK) for creating AR applications that require custom content and branding.
• Vuforia Chalk: Our AR-enabled remote assistance solution that connects onsite users with remote experts using real-time audio and video and Vuforia’s best-in-class computer vision capabilities.
  
  

AI: Artificial intelligence

AI refers to the ability of computers and machines to mimic human intelligence such as pattern recognition, learning, decision making, and perception. Example fields of AI include computer vision, machine learning, and natural language processing.

Integrating AI into PTC's software portfolio has been a strategic effort for over a decade-plus. PTC continues to invest in AI in customer-centric ways that accelerate customer innovation, improve the user experience within our software products, and make it easier to derive data-driven insights from across the product lifecycle, all while allowing clients to safeguard their own data and IP.

Some examples of PTC solutions that utilize AI include:

• Creo, Creo+, and Onshape using generative design to optimize and dematerialize designs around a given set of requirements.
• ThingWorx using machine learning and predictive analytics to predict product issues and maintenance needs before failures occur.
• Vuforia using advanced computer vision to recognize parts or products and guide employees through step-by-step inspection tasks.
• Servigistics using machine learning capabilities to optimize the management of service parts.
• ServiceMax using large language models or generative AI to get assistance on service history reviews and automate service delivery scheduling.
  
  

SaaS: Software-as-a-service

SaaS is a way of delivering software and its data through the cloud, where users can access it through a web browser or app. SaaS-based solutions enable product companies to access the latest versions of PTC software without having to install, update, or manage the software themselves.

Product companies are increasingly using SaaS solutions to realize cloud computing benefits like lower costs, higher performance, and greater security. PTC products delivered as SaaS solutions include:

• Onshape
• Arena
• Codebeamer
• Windchill+
• Creo+
• Kepware+
• ServiceMax
• Vuforia