What is Product Lifecycle Management (PLM)?
Product lifecycle management (PLM) describes a practice which encompasses the people, processes and tools used to manage a product and its associated information from concept to end of life. The discrete stages of a product lifecycle management (PLM) process may be defined as: Throughout these stages, product data is generated and distributed to stakeholders within and outside of an organization. Within the organization, these stakeholders typically represent engineering, operations, procurement, manufacturing, document control, quality, regulatory, marketing and others. External stakeholders include a company’s suppliers, contract manufacturers and design partners.
