PLM (Product Lifecycle Management)

Product Lifecycle Management (PLM) is a system that helps companies manage a product’s entire life—from the initial idea and design, through manufacturing and sales, to its eventual disposal or recycling. PLM integrates people, processes, and technology to streamline information sharing and ensure that all teams are aligned. This improves efficiency, reduces costs, and enhances product quality. By organizing and tracking every phase, PLM enables businesses to innovate more effectively, respond quickly to market changes, and ensure regulatory compliance. Essentially, it helps companies coordinate their efforts to deliver better products to consumers.