
Product Lifecycle Management (PLM) is a strategic business approach to manage the information flow of a product and all related processes from its conception, through design and manufacturing, on to service and disposal.
And why is PLM important?PLM integrates people, processes, methods, tools and technology enabling the creation of product data and information (by means of design, definition, assembly, calculation, simulation and others) and the management of these data and information (by means of project, workflow, storage, visualisation, configuration management, collaborative work tools and others) for companies and their extended enterprises.
PLM also enables the simultaneous execution of tasks thereby shortening time to market. Finally, PLM makes processes more reliable and auditable.
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