product lifecycle management (PLM)
Product lifecycle management (PLM) is a systematic approach to managing the series of changes a product goes through, from its design and development to its ultimate retirement or disposal.
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PLM is associated with manufacturing, but the management structure can also be used for software development and service provision. PLM is typically broken into the following stages:
- Beginning of life (BOL) – includes new product development and design processes.
- Middle of life (MOL) – includes collaboration with suppliers, product information management (PIM ) and warranty management.
- End of life (EOL) – includes strategies for how the products will be disposed of, discontinued or recycled.
A PLM software application can help an organization manage their product’s lifecyles by providing a data warehouse for all the information that affects the product. PLM software can be used to automate the management of product-related data and integrate the data with other business processes such as enterprise resource planning (ERP ) and manufacturing execution systems (MES ). The goal of PLM is to eliminate waste and improve efficiency. PLM is considered to be an integral part of the lean production model.
This was last updated in December 2013
PLM and PLM software have many uses and benefits. PLM can solve a variety of issues companies experience with product design and development. Knowing when your organization needs PLM software and which features and functions of PLM systems fit your business model are first steps in getting your products designed and released efficiently.
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engineering bill of materials (EBOM) An engineering bill of materials (EBOM) is a product recipe structured from the design standpoint, rather than the manufacturing. See complete definition model-based enterprise Model-based enterprise (MBE) is an engineering strategy that aims to clarify design intent during the manufacturing process. See complete definition virtual manufacturing Virtual manufacturing (VM) is the use of computers to model, simulate and optimize the critical operations and entities in a. See complete definition
Dig Deeper on PLM implementation for manufacturing
JillCR – 24 Jun 2014 8:13 PM
Thanks Margaret for this explanation. A PLM is useful to gather all data about your products in a repository. As a result, teams benefit from a “single version of the truth” when looking for any information about products. It is also possible to trace and version products, and then have a global view of past and current portfolio. First reserved to complex systems and engineering companies, PLM is now set up by more and more sectors such as food industries or cosmetics for instance. As you said, an important point is to be sure of PLM compatibility with implemented ERP. If you want to know more about product lifecyle management, feel free to click on the following link: http://www.lascom.com/en/Product-Life-Cycle-Management/
JasonPDX – 30 Mar 2017 7:07 PM
Margaret, this is an excellent intro for folks wondering what it is. So many companies are using spreadsheets where PLM software would make their lives easier and save them money in the end.
Our company, Aligni, offers this type of product lifecycle management via a cloud-based platform.
Thanks for the article!