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Product Lifecycle Management

However plm eliminates waste and efficiency across all aspects of a products life from design to deployment not just in its manufacture. The product revenue and profits can be plotted as a function of the life cycle stages as shown. Product Lifecycle Wikipedia Product lifecycle management plm is a new paradigm for product manufacturing a. Product lifecycle management . This sequence is known as the product life cycle and is associated with changes in the marketing situation thus impacting the marketing strategy and the marketing mix. Product life cycle management is the application of different strategies to meet market challenges and ensure that whichever of the product life cycle stages a product may be going through the manufacturer can maximize sales and profits for their product. It explains how world class engineering and manufacturing companies are implementing plm successfully. Plm software connects people processes a