Product-Lifecycle-Management (PLM) is a concept that seamlessly integrates all information generated over the course of a product’s lifecycle. The concept is based on coordinated methods,
processes and organizational structures. It usually deploys IT systems for data recording and administration.
PLM emerged from a more closely defined solution called product data management (PDM). In the early 21st century it evolved into the dominating paradigm of product development. As a result of
PLM, enterprises hope to gain more effective control over their various processes required in every part of a lifecycle and thus transparent overviews of their expenses and earnings.
Hence, the concept’s capabilities comprise engineering (CAD), calculation (CAE) as well as production planning (equipment and technology), PPS and even sales planning, distribution logistics, end
of life management as well as service and recycling issues. Consequently, PLM is a business concept that must be implemented in a custom-tailored manner for every company through suitable
technical and organizational measures.