Product lifecycle management or PLM is an all-encompassing approach for innovation, new product development and introduction (NPDI) and product information management from ideation to end of life. PLM Systems as an enabling technology for PLM integrate people, data, processes, and business systems and provide a product information backbone for companies and their extended enterprise.

Innovation and new product development are essential for most companies to sustain future revenue growth. Customers demand more new products in shorter time intervals, often customized to their own needs. They want more attractive designs, better performance, better quality, lower prices, and instant availability. To meet these needs companies have to be able to collaborate closely within their own organization and with partners and suppliers located in various parts of the world. At the same time, companies have to manage increasing product and manufacturing complexities due to a quickly growing number of environmental and regulatory rules and requirements. Click here to read more…
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