Product Lifecycle Management

The significance of product lifecycle management (PLM – Product Lifecycle Management, formerly referred to, in a narrower frame of reference, as PDM – Product Data Management) is increasing, especially for companies in the manufacturing, high technology, and service industries. Product and component lifecycles are shortening while, at the same time, new products must be delivered to market more quickly than before. Many manufacturing and service companies are also trying to grow out of a bulk provider role. In the future they will be p- viding configurable and flexible solutions rather than just individual products. This leads companies to form networks in which each actor specializes in the planning, manufacture or integration of products in a certain field. Information concerning common products must pass quickly, faultlessly, and automatically between companies so that they can compete effectively in international markets. In today’s industrial production, therefore, PLM is an