What is Product Lifecycle Management Software - PLM?

Product lifecycle management (PLM) provides a methodical approach to managing the series of changes a product undergoes, from its design and creation to its ultimate dumping or retirement.
PLM is related to manufacturing, but the management configuration can also be utilized for service provision and software development. PLM can be grouped into the following stages:

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

Middle of life (MOL) - includes collaboration 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End of life (EOL) - includes policies for how the products will be withdrawn or recycled.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 platform can help organizations to manage their product's lifecycle by providing a data warehouse for all the information that impacts the product. The program can be used to automate the handling of product-related data and to integrate the data with other methods such as manufacturing execution systems (MES) and enterprise resource planning (ERP). The objective of PLM software is to minimize waste and boost efficiency. PLM is regarded as a vital element of the lean production model.

List of Product Lifecycle Management Software - PLM Companies

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