What is Product Lifecycle Management Software?

Product lifecycle management (PLM) provides a systematic approach to managing the sequence of changes a product undergoes, from its design and formation to its ultimate disposal or retirement.
PLM is linked to manufacturing, but the management configuration can also be used for service provision and software development. PLM can be categorized into the following stages:

Beginning of life (BOL) - includes new product design and development processes.

Middle of life (MOL) - includes partnership with suppliers, warranty management, and product information management (PIM).

End of life (EOL) - includes policies for how the products will be withdrawn or recycled.

A PLM software solution can assist organizations to manage their product's lifecycle by supplying a data warehouse for all the information that affects the product. The application can be used to automate the management of product-related data and to combine the data with other methods such as manufacturing execution systems (MES) and enterprise resource planning (ERP). The goal of PLM software is to minimize waste and improve efficiency. PLM is regarded as a vital element of the lean production model.

List of Product Lifecycle Management Software Companies

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