Product lifecycle management (PLM) is the process of managing the entire lifecycle of a product
from its conception, through design and manufacture, to service and disposal. It is one of the four
cornerstones of a corporation's information technology structure. All companies need to manage
communications and information with their customers (CRM-Customer Relationship Management),
their suppliers (SCM-Supply Chain Management), their resources within the enterprise (ERP-Enterprise
Resource Planning) and their planning (SDLC-Systems Development Life Cycle. In addition,
manufacturing engineering companies must also develop, describe, manage and communicate
information about their products. PTC's Windchill, is a the class leading internet based PLM system.
Documented benefits include:
Savings through the complete integration of engineering workflows
Product Lifecycle Management (PLM) is more to do with managing descriptions and properties of a
product through its development and useful life, mainly from a business/engineering point of view;
whereas Product life cycle management (PLCM) is to do with the life of a product in the market with
respect to business/commercial costs and sales measures.
from its conception, through design and manufacture, to service and disposal. It is one of the four
cornerstones of a corporation's information technology structure. All companies need to manage
communications and information with their customers (CRM-Customer Relationship Management),
their suppliers (SCM-Supply Chain Management), their resources within the enterprise (ERP-Enterprise
Resource Planning) and their planning (SDLC-Systems Development Life Cycle. In addition,
manufacturing engineering companies must also develop, describe, manage and communicate
information about their products. PTC's Windchill, is a the class leading internet based PLM system.
Documented benefits include:
- Reduced time to market
- Improved product quality
- Reduced prototyping costs
- Savings through the re-use of original data
- A framework for product optimization
- Reduced waste
Savings through the complete integration of engineering workflows
Product Lifecycle Management (PLM) is more to do with managing descriptions and properties of a
product through its development and useful life, mainly from a business/engineering point of view;
whereas Product life cycle management (PLCM) is to do with the life of a product in the market with
respect to business/commercial costs and sales measures.
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