What is PLM software used for? PLM software enables companies to centralize, share and secure information, automate processes and standardize product development methods. It serves to reduce product development time, improve communication among teams and partners, and capitalize on information and latent knowledge.
What is PLM concept?
Product lifecycle management (PLM) refers to the handling of a good as it moves through the typical stages of its product life: development and introduction, growth, maturity/stability, and decline. This handling involves both the manufacturing of the good and the marketing of it.
What is PLM and why is it important?
“Good PLM capabilities are essential to accelerate the maturity growth in product development projects. This improves product design and cuts lead time and cost. ... PLM integrates people, data, processes and business systems and provides a product information backbone for companies and their extended enterprise.Jul 5, 2013