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PLM

PLM — Product Lifecycle Management

A business and engineering approach for managing product information throughout the entire product lifecycle.

Definition

Product Lifecycle Management (PLM) is a business and engineering discipline that manages product-related information from initial concept and design through manufacturing, operation, maintenance and eventual retirement or disposal. PLM integrates engineering data, product structures, configuration management and collaboration to support efficient product development and lifecycle information management.

Why It Matters

Product Lifecycle Management manages engineering and product information throughout the complete lifecycle of a product.

In Practice

Product Lifecycle Management systems integrate engineering, manufacturing and service information, providing a single source of product definition that supports collaboration, configuration management and digital engineering.

Common Misuse

Product Lifecycle Management manages information relating to products throughout their lifecycle, whereas Asset Management focuses on the operation and performance of deployed physical assets.

Term Details
Synonyms:
PLM; Product Lifecycle Management; Product Lifecycle Management System; Product Data Management
Classification:
Asset Information Management
Methodology
Intermediate
Applications

Product Management; Information Management; Engineering Design.

Where It's Used

Manufacturing.; Industrial equipment.; Aerospace.; Automotive.; Engineering.

References

ISO 10303; ISO 23247

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