What Is Product Lifecycle Management?
Product lifecycle management (PLM) is a sequential process of managing different activities associated with a product from the time of its inception. It includes product design, development, manufacturing, quality control, sales, distribution, and customer service management. That being said, developing and implementing a PLM software helps streamline the aforementioned processes, accelerates time-to-market, and delivers maximum customer satisfaction.
Understandably, product lifecycle management is increasingly important for businesses of all types and sizes regardless of the underlying industry. However, manufacturing and supply chain industries come at the forefront of PLM applications and business use cases. In the following section, we shall explore the benefits of integrating PLM software with ERP systems for effective supply chain management.
