Product lifecycle management (PLM) is the process of managing the entire lifecycle of a product from inception, through engineering design and manufacture, to service and disposal of manufactured products. PLM integrates people, data, processes and business systems and provides a product information backbone for companies and their extended enterprise.
Product lifecycle management, sometimes “product life cycle management”, represents an all-encompassing vision for managing all data relating to the design, production, support and ultimate disposal of manufactured goods.
PLM concepts were first introduced where safety and control have been extremely important, notably the aerospace, medical device, military and nuclear industries. These industries originated the discipline of configuration management (CM), which evolved into electronic data management systems (EDMS), which then further evolved to product data management (PDM).
- Reduced time to market
- Increase full price sales
- Improved product quality and reliability
- Reduced prototyping costs
- More accurate and timely request for quote generation
- Ability to quickly identify potential sales opportunities and revenue contributions
- Savings through the re-use of original data
- A framework for product optimization
- Reduced waste
- Savings through the complete integration of engineering workflows
You can transform your business to a revenue-producing asset that lets you work as much or as little as you want.
Strategic plan development
Pyramid of Production Systems
Which can be measured in terms of monetary units and usually consists of fixed and variable cost.
Which can be measured in terms of the number of products produced during a period of time.
Which can be measured in terms of customer satisfaction levels for example.
Which can be considered the ability of the system to produce a variety of products for example.
Which can be measured in terms ecological soundness i.e. biological and environmental impacts of a production system.