Product life cycle management (PLM) is the practice of managing the entire lifecycle of a product from conception through its end of life. PLM helps organizations manage their product portfolio across the whole value chain - from design, engineering, manufacturing, supply chain, service, maintenance, recycling, and disposal.
History Of PLM
The history of PLM goes back to the 1960s when the first computer-aided design (CAD) tools were developed. CAD was originally designed to help engineers create drawings of mechanical parts. However, CAD soon became a much more sophisticated software tool for developing any product.
In the 1980s, the term "Product Lifecycle Management" was coined by Michael Hammer. He defined this concept as "the ability to capture and manage the complete life cycle of a product, including its conception, design, engineering, manufacture, distribution, promotion, and maintenance."
Since then, many different types of PLM solutions have emerged. They range from simple spreadsheets to complex enterprise solutions. Today, we are going to take a look at some of the best-known PLM solutions.
Product Life Cycle Management
PLM refers to the application of technology and processes to help manufacturers manage the full life cycle of their products. This includes planning, designing, producing, distributing, servicing, maintaining, and disposing of products throughout their lifetime.PLM is a strategic process to reduce the cost of getting a product to market. Manufacturing Industries like Automotive and Aviation mostly use PLM. 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 was once called PDM (Product Data Management). PLM manages the entire lifecycle of the product from Inception, Engineering Design, Manufacture, and service to the disposal of the product. PLM tools like SIEMENS Teamcenter and Dassault Systemes Enovia are popular in the market.
Product Life Cycle Management Software
A software solution that automates the entire product lifecycle from concept to disposal. A PLM solution provides visibility into the complete product life cycle, from design to production to distribution.
Product Data Management
The data stored in a product database is called product data. Product data is used to create and maintain records of the physical characteristics of a product. It may contain information about the product's dimensions, materials, components, and specifications.
List of PLM software:
SIEMENS Teamcenter
Oracle Agile PLM
Autodesk PLM 360
PTC Windchill
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