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product lifecycle management (PLM)

The product cycle is an important control mechanism for cost reduction and product innovation for company management. In addition, it plays an essential role in regulatory compliance in some industries, such as the manufacturing of pharmaceuticals.

Product Lifecycle

Management (PLM) Activities

Management (PLM) Activities

In general, it can be said that product lifecycle management (PLM) accompanies a product from the idea, through development, manufacturing, and service, to disposal. In PLM management, product data accompanies the product throughout its entire lifecycle from the Beginning of Life (BOL) to the End of Life (EOL) and connects engineering with the commercial and administrative departments of the company. PLM management supports the exchange of technical data such as Computer Aided Design (CAD), product-specific data from Product Data Management (PDM), as well as business or logistical data from Supply Chain Management (SCM).

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Englisch: product lifecycle management - PLM
Updated at: 17.08.2017
#Words: 192
Translations: DE