PLM technology stands for Product Lifecycle Management. It is a type of software designed to help companies manage their product development processes from initial concept through to delivery. PLM technology helps companies streamline the product design process by providing tools for collaboration, versioning, tracking, and storing all data related to the product. It enables companies to improve the quality, complexity, and speed of new product development and delivery. PLM technology makes it easier for companies to bring innovations to market faster. It also helps them stay ahead of the competition by helping them better understand customer needs, improving the accuracy of forecasting, and reducing costs associated with product development.