
Understanding PLM: A Guide to Product Lifecycle Management
Table of Contents Introduction In today’s highly competitive business environment, managing the lifecycle of a product has never been more critical. From the initial concept to the end of its market life, every product goes through a complex journey that involves design, development, manufacturing, marketing, and eventually, disposal. Product Lifecycle Management (PLM) is a comprehensive approach that integrates people, processes, technology, and information across the entire lifecycle of a product. It serves as a central hub for managing all aspects of a product’s journey, ensuring that every stage is optimized for efficiency. PLM enables businesses to streamline operations, reduce costs,