What is Product Lifecycle Management Software?

Product lifecycle management (PLM) offers a logical approach to managing the series of changes a product undergoes, from its design and development to its ultimate discarding or retirement.
PLM is related to manufacturing, but the management structure can also be used for service provision and software development. PLM can be grouped into the following stages:

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

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

End of life (EOL) - includes strategies for how the products will be withdrawn or recycled.

A PLM software platform can help companies to manage their product's lifecycle by providing a data warehouse for all the information that affects the product. The application can be used to automate the handling of product-related data and to combine the data with other practices such as manufacturing execution systems (MES) and enterprise resource planning (ERP). The aim of PLM software is to minimize waste and improve efficiency. PLM is viewed as a crucial component of the lean production model.

List of Product Lifecycle Management Software Companies

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