Product Lifecycle Management: Complexity out, innovation in

How does Product Lifecycle Management (PLM) work?

• PLM connects all information, processes and participants along the entire product life cycle - from the initial idea to dismantling.
• PLM creates a central, consistent database for development, production, service and quality assurance like a ‘digital thread’ in the company.
• In PLM, all changes to the product are documented, controlled in a traceable manner and synchronised across systems.

How do methods and tools structure the product life cycle?

• Methods such as stage-gate, systems engineering or change management structure product development and decision-making.
• Classification and variant management help to reduce complexity and promote reuse.
• PLM tools provide support through workflows, data models and centralised information storage. Adequate interfaces ensure the smooth flow of data between departments and IT systems.

Who benefits from this?

• Industrial companies with complex products, such as mechanical and plant engineering, automotive or aviation.
• All companies that offer a wide range of variants, want to manage product data in a structured way and promote its reuse.
• Organisations with several locations or partners that require a uniform database and standardised processes.