Product Lifecycle Management
Product lifecycle management (PLM) is an information management system that can integrate data, processes, business systems and, ultimately, people in an extended enterprise. PLM software allows you to manage this information throughout the entire lifecycle of a product efficiently and cost-effectively from ideation, design and manufacture through service and disposal.
PLM for startups and small businesses
PLM helps build a solid foundation of efficient and repeatable processes to support your startup’s rapid growth. Managing development processes manually with emails and spreadsheets might work in the short term, but not when it’s time to ramp up production.
While PLM is often associated with large enterprises, it can be even more important to the success of small and medium sized businesses. With the cloud, the benefits of PLM are finally available to startups and small businesses.
What are the solutions of PLM?
- Work to rely on customer
- Responding quickly to changing market conditions
- Shortening the duration of the market to offer new products
- Workflow that allows optimization of product
- Reduction in the cost of prototype
Applications of PLM Software
- Optimize relationships along the product lifecycle and across organizations
- Maximize the lifetime value of your business' product portfolio
- Drive top-line revenue through repeatable processes
- Set up a single system of record to support diverse data needs, so that the right people see the right information at the right time and in the right context