What is PLM?

PLM or Product Lifecycle Management is the integration of people, processes, business systems, and information over the whole lifecycle of any product like a plant, a car, a gearbox or a ship, from initial concept to end of life.

PLM is a business approach to solving the problem of managing the complete set of product definition information - creating that information, managing it through its life, and disseminating and using it throughout the lifecycle of the product. PLM is not just a technology, but is an approach in which processes are as important, or more important than data. It is critical to note that PLM is as concerned with "how a business works" as with "what is being created."

Three core or fundamental concepts of PLM are:

  1. Universal, secure, managed access and use of product definition information.
  2. Maintaining the integrity of that product definition and related information throughout the life of the product.
  3. Managing and maintaining business processes used to create, manage, disseminate, share and use the information.