Product Lifecycle Management (PLM)
PLM is defined as:
- A strategic business approach that applies a consistent set of business solutions that support the collaborative creation, management, dissemination, and use of product definition information
- Supporting the extended enterprise (customers, design and supply partners, etc.)
- Spanning from concept to end of life of a product or plant
- Integrating people, processes, business systems, and information
It is important to note that PLM is not a definition of a piece, or pieces, of technology. It is a definition of a business approach to solving the problem of managing the complete set of product definition information—creating that information, managing it through its life, and disseminating and using it throughout the lifecycle of the product. PLM is not just a technology, but is an approach in which processes are as important, or more important than data. It is critical to note that PLM is as concerned with “how a business works” as with “what is being created.” > Full Definition
- Is PLM Right For Your Business?
Considered the backbone of many business initiatives, product lifecycle management helps speed products to market, among other things. - > Read Full Article
- ERP and PLM: Addressing Differing Manufacturing Needs
Although PLM and ERP systems have unique value in their own right, organizations typically get the best value from deploying a PLM when they integrate it with an ERP. - > Read Full Article
- PLM Aids Product Makers, Buyers
Roughly 80 percent of a product's final cost is locked in at the design stage, so the more companies can reuse components and manage handoff between design and manufacturing, the better off they are. - > Read Full Article
- Making Room for PLM: A disciplined strategy can aid users
An effective PLM strategy streamlines operations, reduces risks, and saves a significant amount of money throughout the product realization process. Pros of a PLM include… - > Read Full Article
