What is PLM?
Product Lifecycle Management, for us, is a combination of processes and IT tools to manage complex products throughout their entire lifecycle.
For us, these products consist of software, hardware, and electronics – as well as the functions and services they can be connected to.
A product’s lifecycle begins with an initial idea or a sketch and runs all the way until it is discontinued. During its lifecycle, the product can be developed, updated, and content changed. Everything must be tracked and managed with efficient tools which should be built based on the needs of users and the company.
Different phases of the product’s lifecycle require different information systems to support efficient work processes. The systems must be able to manage requirements, functions, components, items, and documents in a structured way, as well as apply configuration logic to these structures – throughout the entire lifecycle.
It is obvious to us that these tools should be able to interact effectively in an IT landscape through information exchanges across the entire toolchain. Efficiency arises when the process, toolchain, and user work together in harmony. That is why it is important for each company to adapt its PLM solution based on its products, business models, users, and processes.
PLM – when properly implemented – provides the right information to the right user at the right time.