Product lifecycle management (PLM) is the process of managing complex product information, engineering and manufacturing workflows, and collaboration.
PLM software connects people, processes, and data across the entire product lifecycle to a central repository of information. So everyone from the conceptual designer to the end-customer is on the same page, sharing the same up-to-date product definition.
Benefits of product lifecycle management
The ultimate purpose of PLM software is to accelerate product development and increase profitability.
Make your product development processes more efficient and break down silos, so you can get your products to market faster.
Eliminate process bottlenecks
Minimize delays and bottlenecks by providing the tools to design and define processes and workflows, along with their associated tasks, gates and milestones.
Improve strategic decisions
Create a central repository for all product data. Give people access to the right data at the right time, so they can make more strategic and informed decisions.
Product lifecycle management capabilities
Learn how PLM software can help make processes more efficient across your entire organization. Visit our PLM resource center to learn more.
Bill of materials (BOM) management
BOM is too important to leave open to errors. PLM software helps you manage, visualize, and share up-to-date BOM information across the organization in real-time.
Engineering change management
Provide a clear view of the details that are needed in order to understand and approve engineering change requests (ECR) and engineering change orders (ECO).
New product introduction (NPI / NPD)
Establish efficient and repeatable NPI processes: offer real-time views of the development status, and track milestones of all products in development.
PLM helps build a solid foundation of efficient and repeatable processes to support your startup’s rapid growth. Managing development processes manually with emails and spreadsheets might work in the short term, but not when it's time to ramp up production.
While PLM is often associated with large enterprises, it can be even more important to the success of small and medium sized businesses. With the cloud, the benefits of PLM are finally available to startups and small businesses.