Materials
Product Lifecycle Management (PLM)
Managing a product’s entire lifecycle from concept to disposal.
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Updated 2025-10-01
Definition
PLM integrates people, processes, and technology to optimize product development, manufacturing, and end-of-life management.
Overview
Overview
PLM ensures coordination across departments, improves efficiency, and reduces costs throughout a product's lifecycle.
Stages
- Concept and design
- Production and manufacturing
- Distribution and sales
- End-of-life and recycling
Example
A consumer electronics company uses PLM software to track design iterations, supplier changes, and product updates before release.
Tags
#PLM#Product Management#Materials#Lifecycle#Supply Chain
Related Terms
Product Segmentation
Inventory Management
SKU Management
