What is Product Lifecycle Management Software?

Product lifecycle management (PLM) offers a methodical approach to managing the series of changes a product undergoes, from its design and creation to its ultimate disposal or retirement.
PLM is related to manufacturing, but the management structure 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 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 discarded or recycled.

A PLM software system can help companies to manage their product's lifecycle by supplying a data warehouse for all the information that impacts the product. The program can be used to automate the management of product-related data and to integrate the data with other practices such as manufacturing execution systems (MES) and enterprise resource planning (ERP). The goal of PLM software is to minimize waste and boost efficiency. PLM is viewed as a crucial element of the lean production model.

List of Product Lifecycle Management Software Companies

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