What is product lifecycle management (PLM)?
Whether it’s a pair of sneakers or a component for a satellite, every manufactured product is actually the culmination of thousands of small decisions made by hundreds of different people. Each item is its own little story, written collaboratively across engineering desks, production floors, and conference rooms. But without the right approach, the narrative can quickly become jumbled, inconsistent, and full of costly mistakes. That’s the power of product lifecycle management (PLM): It provides a unified space where all these product decisions come together. PLM aligns teams, streamlines collaboration, and gives clarity at every step of the journey – from the first spark of inspiration through to final product delivery and beyond. Ultimately, PLM helps companies not just create products, but craft coherent, compelling stories that resonate with customers, reduce complexity, and inspire lasting success.
PLM meaning and definition
Product lifecycle management (PLM) is the process of managing a product through every stage of its lifecycle – from initial concept and design, through manufacturing and usage, to final disposal. It integrates data, processes, and people involved, ensuring seamless collaboration and efficient product development.