Product Lifecycle Management: A European Perspective

| 01 August 2008

Product lifecycle management (PLM) can be defined as the process of managing the entire lifecycle of a product from its conception, through design and manufacture, to service and disposal.1 Products that have been put on the market change over time and this process must be managed as it moves through its successive stages.2 PLM has its origins in the automotive and other engineering industries; the main aims were to reduce time to market, reduce cost, improve quality, optimize processes and reduce waste, utilizing workflow. The pioneer in PLM was American Motors Corporation with the introduction of computer aided design (CAD). Other systems include computer aided manufacturing (CAM) and product data management (PDM).


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