Product lifecycle management (PLM) is a system that helps organizations throughout the product development process, from ideation and design through manufacturing and delivery.
In a PLM system, organizations can manage all of the data and processes associated with their products in one central repository. This repository can be accessed by different teams throughout the product development process, allowing for better collaboration and coordination.
PLM systems can help organizations to:
- accelerate product development
- improve product quality
- reduce costs
- shorten time to market
The benefits of using a PLM system are vast, but there are also some challenges that organizations should be aware of before implemented a PLM system. These challenges include:
- complexity and cost of implementation
- lack of user adoption
- data quality issues
If you're considering implementing a PLM system, it's important to do your research and ensure that the system you choose is the right fit for your organization.