Product lifecycle refers to the phases of a product's life from an engineering perspective known as Product Lifecycle Management or PLM. PLM is the process of managing the entire lifecycle of a product from its conception, design, manufacture, service, to disposal. Also, PLM integrates people, data, processes, and business systems and provides a product information backbone for companies and their extended enterprise.
Product lifecycle management is one of the four cornerstones of a corporation's information technology structure. All companies need to manage communications and information with their customers (CRM or Customer Relationship Management), their suppliers (SCM or Supply Chain Management), their resources within the enterprise (ERPor Enterprise Resource Planning), and their planning (SDLCor Systems Development Life Cycle). In addition, manufacturing engineering companies must also develop, describe, manage and communicate information about their products.
Documented benefits of product lifecycle management include:
- Reduced time to market
- Improved product quality
- Reduced prototyping costs
- More accurate and timely Request For Quote generation
- Ability to quickly identify potential sales opportunities and revenue contributions
- Savings through the re-use of original data
- A framework for product optimization
- Reduced waste
- Savings through the complete integration of engineering workflows
- Documentation that can assist in proving Compliance for RoHS or Title 21 CFR Part 11
- Ability to provide Contract Manufacturers with access to a centralized product record
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With over 21 years of 
