Product Lifecycle Management
"Product Lifecycle Management (PLM) generally refers to the process of managing all data related to the product over its life cycle. It broadens the concept of product data management (PDM) to address managing the product configuration and the availability of product data into its later lifecycle stages of production, operation, support and disposal and to address managing the product's related process data. ARC Advisory Group defines six components of PLM: innovation and portfolio management, project and program management, collaborative design, product data management, manufacturing process planning, and service and support management. Michigan's PLM Development Consortium defines it as""an integrated, information driven approach to all aspects of a product's life from its design inception, through its manufacture, deployment and maintenance and culminating in its removal from service and final disposal. PLM is the integration of business systems to manage a product's lifecycle."" CIMdata Inc., says that PLM represents ""a business approach to solving the problem of managing the complete set of product and plant definition information and the processes through which it passes. The PLM process includes creating and changing that information, managing it through its life and disseminating and using it throughout the lifecycle of the product."""
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