PLM Stands for Product Lifecycle Management (PLM). It is a strategic process to reduce the cost of getting a product to market. PLM mostly used by Manufacturing Industries like Automotive and Aviation. It is a tool to manage the collaboration of its suppliers. It is tough to manufacture a product having millions of parts sourced from hundreds of suppliers. PLM once called PDM (Product Data Management). PLM is the process of managing the entire lifecycle of the product from Inception, Engineering Design, Manufacture, service to the disposal of the product. PLM tools like SIEMENS Teamcenter and Dassault Systemes Enovia are popular in the market.