Product lifecycle management (PLM) is the process related to the management of a product’s entire lifecycle from concept design, to design engineering, to manufacturing, to servicing and finally disposal of the product. PLM connects product data, processes and people involved in the product lifecycle through an integrated platform which acts as a central repository of information.
Representation of full end-to-end Product Lifecycle Management platform (PLM), including CAD, Application Lifecycle Management (ALM), Service Lifecycle Management (SLM) and Supply Chain Management (SCM) (PTC)
A simpler representation of PLM (Siemens)
Areas
Having a robust PLM strategy is essential to ensuring organisations stay ahead of competition and this is achieved through these areas:
End-to-End Consolidated Product Information Management:
Collaborate Across Different Functional Teams on a Common PLM Framework
Improve Strategic Decision Making on an Enterprise Level
Build Up Knowledge Base – Reusable Content and Repeatable Processes
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Product and Asset Data Management
Manage critical processes such as content, change and configuration management on a platform that allows teams to work together in different locations
Project Management
Easily access the right project management information at the right time, keeping the team aligned with better collaboration
IIoT-Ready Product Lifecycle Management
Implement Industrial Internet of Things (IIoT) with PLM to improve productivity, quality control, sustainability, supply chain traceability and efficiency
Service Lifecycle Management
Manage service information, optimise supply chains, create and publish 3D technical documentation and dynamic Augmented Reality experiences