PLM (Product Life Cycle Management) is the integration of all information that arises along the life cycle of a product. This includes the phases of conception and development, market launch and distribution, and finally market withdrawal.
PLM refers to processes, methods as well as organisations and in this context also the different IT systems per phase and department.
With the help of PLM, different information can be passed on easily, which reduces internal efforts and potential for errors. Likewise, PLM allows experiences and insights from a product version to be recorded holistically. With the help of the analysis of this information, product developments can be better advanced.