PLM (Product Lifecycle Management) is basically a system that is used to manage a product through its entire lifecycle, from conception to retirement. This includes managing all the data and documentation related to the product, as well as managing any changes that need to be made to the product over time.
There are a number of different software platforms that offer PLM functionality, and they can be used for a variety of different purposes. For example, some companies use PLM to manage the development of new products, while others use it to manage the lifecycle of existing products. PLM can also be used to manage the supply chain, or to simply keep track of all the data and documentation related to a product.
There are a number of different benefits that can be gained from using PLM. For example, it can help to improve communication and collaboration between different teams working on a product. It can also help to reduce the amount of time and money that is spent on managing a product. Additionally, PLM can help to improve the quality of a product by helping to ensure that all the necessary data and documentation is available.