Product Lifecycle Management - How To Discuss
Product Lifecycle Management
What is product lifecycle management?
Product Lifecycle Management (PLM) is the process of collecting, analyzing and sharing product information from design through production, sale, use, repair, disposal and recycling. Digital PLM extends data beyond the company to provide insights into how customers use the product in the real world.
What are the business benefits of product lifecycle management?
PLM analytics and data sharing help manufacturers quickly adapt designs and implement new features to meet changing market needs faster and at a lower cost than competitors. By adding the voice of the customer to data stored in PLM systems, digital PLM enables new business models, such as sales analytics, to help customers make better use of products.
Literal Meanings of Product Lifecycle Management
Product:
Synonyms of Product
merchandise, goods, wares
Lifecycle:
Meanings of Lifecycle:
The course of stages through which an organism moves from a fertilized zygote to maturity, reproduction, and .
(in a broader sense) The lifespan of a product or system is the history of the development of an individual or group in society.
Management:
Meanings of Management:
The leaders of the organization, especially senior leaders.
