Question
The main components of Product Lifecycle Management (PLM) typically include:
1. Product Data Management (PDM): This involves managing and tracking the creation, change, and archival of all information related to a product.
2. Product and Portfolio Management (PPM): This involves managing the company's product portfolio and optimizing it for maximum profitability.
3. Design Integration: This involves integrating different design elements and tools to create a cohesive product.
4. Information Management: This involves managing all information related to the product and ensuring it's accessible and usable.
5. Process Management: This involves managing all processes related to the product, from design to production to distribution.
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Neglect of product lifecycle management (PLM) leads to the loss of opportunities, a significant decrease in the product's life cycle or even worse – the product's quick disappearance from the market. The good news is that our deck is designed to aid managers' product and sales improvement efforts and help them assign priorities, schedule future production expansion and marketing initiatives, preplan flattening sales curves and ensure the product's ongoing success.
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