product lifecycle management (PLM)

Product lifecycle management (PLM) is a systematic approach to managing the series of changes a product goes through, from its design and development to its ultimate retirement or disposal. PLM software can be used to automate the management of product-related data and integrate the data with other business processes.

Product lifecycle management (PLM) is a systematic approach to managing the series of changes a product goes through, from its design and development to its ultimate retirement or disposal.

PLM is associated with manufacturing, but the management structure can also be used for software development and service provision. PLM is typically broken into the following stages:

  • Beginning of life (BOL) - includes new product development and design processes.
  • Middle of life (MOL) - includes collaboration with suppliers, product information management (PIM) and warranty management.
  • End of life (EOL) - includes strategies for how the products will be disposed of, discontinued or recycled.

A PLM software application can help an organization manage their product's lifecyles by providing a data warehouse for all the information that affects the product. PLM software can be used to automate the management of product-related data and integrate the data with other business processes such as enterprise resource planning (ERP) and manufacturing execution systems (MES). The goal of PLM is to eliminate waste and improve efficiency. PLM is considered to be an integral part of the lean production model.

This was first published in December 2013

Continue Reading About product lifecycle management (PLM)

Glossary

'product lifecycle management (PLM)' is part of the:

View All Definitions

Dig deeper on PLM implementation for manufacturing

Pro+

Features

Enjoy the benefits of Pro+ membership, learn more and join.

2 comments

Oldest 

Forgot Password?

No problem! Submit your e-mail address below. We'll send you an email containing your password.

Your password has been sent to:

File Extensions and File Formats

Powered by:

SearchOracle

SearchDataManagement

SearchCRM

SearchSAP

SearchBusinessAnalytics

SearchSQLServer

SearchContentManagement

SearchFinancialApplications

Close