The full form of PLM is Product Lifecycle Management.
Product Lifecycle Management (PLM) is the process of managing the entire lifecycle of a product, from its inception, through design and manufacture, to service and disposal. It encompasses all aspects of a product's journey, effectively managing it from "cradle to grave". PLM is a strategic approach that integrates people, data, processes and business systems, providing a product information backbone for companies and their extended enterprise.
In more detail, PLM typically involves:
- Idea Management: Capturing and evaluating product ideas.
- Product Definition: Defining product requirements and specifications.
- Engineering Design: Creating detailed designs and prototypes.
- Manufacturing Planning: Planning the manufacturing process.
- Product Data Management: Managing product data throughout the lifecycle.
- Service and Support: Providing service and support for the product.
- End-of-Life Management: Managing the disposal or recycling of the product.
