Product Lifecycle Management (PLM) Software
Introduction
Product lifecycle management (PLM) is an information management system that can integrate data, processes, business systems and, ultimately, people in an extended enterprise. PLM software allows you to manage this information throughout the entire lifecycle of a product efficiently and cost-effectively from ideation, design and manufacture through service and disposal.
A PLM Strategy
As an information strategy, PLM builds a coherent data structure by consolidating systems. As an enterprise strategy, PLM lets global organizations work as a single team to design, produce, support and retire products, while capturing best practices and lessons learned along the way. PLM empowers your business to make unified, information-driven decisions at every stage in the product lifecycle.
We believe it’s not enough to just digitize your processes, because that only mimics processes digitally for incremental improvement. You need to digitalize: weave a digital thread through ideation, realization, and utilization, and make that digital thread of knowledge a proactive agent in driving your business. With a fully optimized digital enterprise, you are better equipped to initiate or respond to innovation.
Applications of PLM Software
PLM solutions establish a cohesive digital platform to:
- Optimize relationships along the product lifecycle and across organizations
- Set up a single system of record to support diverse data needs, so that the right people see the right information at the right time and in the right context
- Maximize the lifetime value of your business' product portfolio
- Drive top-line revenue through repeatable processes
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