Product lifecycle management (PLM) is a process of managing the series of changes (versions) in a product goes through its lifecycle, from its inception or design and development to its disposal.
What is PLM Software ?
A PLM software helps in manufacturing industries maintain their product data. PLM Software allows integrating all business processes and other tools like ERP (Enterprise Resource Planning) and CAD software. The ultimate goal of plm software is to Reduce the production rework, Improve product quality, Reduce the production unit cost and Improve customer satisfaction.