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Product Lifecycle Management refers to the process of managing the lifecycle of a given product from the presentation of the original idea, to planning, design, product engineering, and development, unveiling and use to troubleshooting and distribution to the final consumer. It is an elaborate process that follows set steps rules and guidelines to ensure the final product is of required quality and it meets the user needs. Due to the long process, there has been an eruption of product lifecycle management software to help automate the product management process and make it more efficient and less prone to error. Product lifecycle management software (PLM) manages data during the development process from the initial idea phase through the planning stage until the product gets to the final consumer. Some of the advantages of using PLM software include increased productivity during project manufacture, guaranteed product quality, reduces the time taken to complete the product, reduces product errors, and encourages the inclusion of more creative ideas during product development. Apart from integrating with other complementary systems such as the ERP system and CAD software (a popular design software), the PLM also allows syncing of data, documents, and organizational processes to come up with a best-fit solution for relevant departments in the organization.
PAT Grid™ for PLM Software
Measures how well the product or service is performing.
Measures how the product or service is rated in comparison to other products.
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