PRODUCT LIFECYCLE MANAGEMENT

Product lifecycle management (PLM) is a growing area within the enterprise solutions market during the last ten years. It basically refers to all capabilities (mostly technology-based) which are necessary for innovation, design of a product, bringing it to the market and manage its performance through end of life. PLM integrates people, data, processes, and business systems and provides a product information backbone for companies.

Historically, PLM solutions were focused on CAD (Computer Aided Design) products and solutions for managing product data, however they have evolved dramatically and now include areas such as idea management, collaboration, configuration management, etc. It’s not jus about software technology, it’s about business strategy.

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