Product Lifecycle Management (PLM) is the process of managing the entire product lifecycle from the first idea through design, construction and production to product servicing and disposal. PLM brings together people, data, business processes and systems and creates the backbone of product information for its own manufacturing company and its partners. The term PLM refers not only to the method of this control, but also to the information system (software) that supports it.
PLM can be interpreted in several ways and many different definitions can be found. To get a better idea of what PLM is, the following simple explanation is useful:
PLM includes product design and management of all materials for their production and maintenance. In addition, it also serves as a central repository for various secondary information, such as vendor practice notes, catalogs, customer responses, marketing plans, archived project plans, and other lifecycle information.