What is Product Lifecycle Management Software - PLM?
Product lifecycle management (PLM) offers a systematic approach to managing the series of changes a product undergoes, from its design and formation to its ultimate discarding or retirement.
PLM is related to manufacturing, but the management structure can also be utilized for service provision and software development. PLM can be categorized into the following stages:
Beginning of life (BOL) - includes new product design and creation processes.
Middle of life (MOL) - includes teamwork with suppliers, warranty management, and product information management (PIM).
End of life (EOL) - includes plans for how the products will be withdrawn or recycled.
A PLM software solution can assist companies to manage their product's lifecycle by providing a data warehouse for all the information that impacts the product. The program can be utilized to automate the management of product-related data and to combine the data with other processes such as manufacturing execution systems (MES) and enterprise resource planning (ERP). The aim of PLM software is to minimize waste and enhance efficiency. PLM is viewed as a critical module of the lean production model.
List of Product Lifecycle Management Software - PLM Companies
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