What is Product Lifecycle Management (PLM)?

Product Lifecycle Management Definition

Product lifecycle management (PLM) is the management of product records (e.g., parts, assemblies, drawings, documents, AML, ECOs) during new product development and introduction (NPDI). PLM software helps product teams and their supply chain partners streamline development from concept through end-of-life. With automated PLM processes, engineering, quality, purchasing, manufacturing, and the entire product team can work together to speed the design, development, production, and servicing of products—while driving continuous improvement.