Product Life Cycle Management (PLM)

Product Life Cycle Management (PLM) is a strategic approach that manages a product’s entire journey—from initial design and development, through manufacturing and distribution, to maintenance and eventual retirement. It involves coordinating data, processes, and teams to ensure a product is efficiently created, updated, and supported over time. PLM helps companies improve collaboration, reduce costs, and bring products to market faster by providing a centralized platform for managing all product information throughout its lifecycle.