PLM (Product Lifecycle Management) system is a comprehensive software and methodology for effectively managing and controlling a product's entire lifecycle from the conceptual stage to the retirement stage.PLM is designed to coordinate and integrate all the data, processes, and teams associated with a product to optimize the product development, manufacturing, operations and maintenance processes.
The following are the key features and functions of a PLM system:
Product data management: The PLM system acts as a central repository for product data, including design documents, engineering drawings, specifications, bills of materials, test data, and so on. It helps to organize and maintain this data, ensuring its accuracy and consistency.
Version control: The PLM system tracks and manages different versions of product data to ensure that design changes and updates are documented and approved. This helps avoid errors and confusion.
Workflow Management: PLM supports customized workflows to ensure that tasks and approvals during product development are performed according to predefined rules and processes. This helps improve collaboration and project management efficiency.
Co-design and Collaboration: PLM facilitates collaboration among multiple teams and stakeholders, enabling them to access and edit relevant data simultaneously, regardless of where they are working.
Change Management: PLM systems help manage product design changes and modifications, including the process of approving, tracking, and documenting these changes.
Supply chain management: PLM can be integrated with supply chain-related information to help track and manage relationships with suppliers and partners.
Quality Management: PLM systems help monitor product quality and compliance, supporting quality control and compliance requirements.
Sustainability Management: PLM systems support sustainability considerations including environmental, social responsibility and sustainable supply chain management.
Data Analysis and Reporting: PLM provides data analysis tools and reporting capabilities to help organizations understand information such as product performance, market demand, and life cycle costs.
The goal of a PLM system is to help an organization reduce the cost of product development and manufacturing, accelerate time-to-market, improve product quality, reduce risk, and support product sustainability. It is typically widely used in manufacturing, aerospace, automotive, medical device, and other engineering-intensive industries to manage complex product lifecycles and drive innovation.