The product lifecycle goes though many phases and involves many professional disciplines and requires many skills, tools and processes. Product life cycle (PLC) deals with the life of a product in the market with respect to business/commercial costs and sales measures. Product Lifecycle Management (PLM) deals with managing descriptions and properties of a product through its development and useful life, mainly from a business/engineering point of view. The conditions a product is sold under will change over time. ... Product lifecycle management (PLM) is the process of managing the entire lifecycle of a product from its conception, through design and manufacture, to service and disposal. It is one of the four cornerstones of a corporations information technology structure . All companies need to manage communications and information...
Wikibooks has more about this subject: Marketing Look up marketing in Wiktionary, the free dictionary. ... Sales, or the activity of selling, forms an integral part of commercial activity. ... Engineering is the design, analysis, and/or construction of works for practical purposes. ... Look up Logistics in Wiktionary, the free dictionary. ... Finance studies and addresses the ways in which individuals, businesses, and organizations raise, allocate, and use monetary resources over time, taking into account the risks entailed in their projects. ... Ideation is the process of forming and relating ideas. ... Commercialism redirects here. ... Sales, or the activity of selling, forms an integral part of commercial activity. ... Manufacturing, a branch of industry, is the application of tools and a processing medium to the transformation of raw materials into finished goods for sale. ... Maintenance, Repair and Operations or Maintenance, Repair and Overhaul (MRO), is fixing any sort of mechanical or electrical device should it get out of order or broken (repair) as well as performing the routine actions which keep the device in working order (maintenance) or prevent trouble from arising (preventive maintenance). ... Software redesign means designing and implementing a new overall structure of a software system without changing its external behavior and with the goal to increase its flexibility. ... This article needs additional references or sources to facilitate its verification. ... Invest redirects here. ... In finance, cash flow refers to the amounts of cash being received and spent by a business during a defined period of time, sometimes tied to a specific project. ...
ProductLifecycle Management or PLM is a term used for the process of managing the entire lifecycle of a product from its conception, through design and manufacture to service and disposal.
PLM should not be seen as a single software product but a collection of software tools and working methods integrated together to address either single stages of the lifecycle or connect different tasks or manage the whole process.
Depending on the complexity of the product a number of levels of this assembly are created until the basic definition of components can be identified, such as position and principle dimensions.
Marketers see new product development as the first stage in product life cycle management, engineers as part of ProductLifecycle Management.
Most industry leaders see new product development as a proactive process where resources are allocated to identify market changes and seize upon new product opportunities before they occur (in contrast to a reactive strategy in which nothing is done until problems occur).
In those industries where products are technically complex, development research is expensive, and product life cycles are short, strategic alliances among several organizations helps to spread the costs, provide access to a wider skills set, and speeds the process.
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