What is Product Lifecycle Management Software - PLM?

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 discarding or retirement.
PLM is linked to manufacturing, but the management configuration can also be utilized for service provision and software creation. PLM can be grouped into the following stages:

Beginning of life (BOL) - includes new product design and creation 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 discontinued or recycled.

A PLM software system can assist organizations to manage their product's lifecycle by supplying a data warehouse for all the information that impacts the product. The application can be utilized to automate the handling of product-related data and to integrate the data with other practices such as manufacturing execution systems (MES) and enterprise resource planning (ERP). The objective of PLM software is to lessen waste and improve 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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