PLM Definition
Product Lifecycle Management (PLM) is the process, and the software that supports it, for managing all the information about a product from its first idea through design, production, and service until it is taken off the market. It gives engineering, manufacturing, and quality teams one shared place to find the current version of every design and specification.
What does a PLM system manage?
- Design files: CAD (computer-aided design) drawings and 3D models
- Bills of materials: the lists of parts and components needed to build each product
- Specifications: technical properties such as materials, dimensions, and tolerances
- Changes and versions: a record of every design change, who approved it, and which version is current
- Compliance documents: test reports, certificates, and safety information
How is PLM different from ERP and PIM?
Each system covers a different part of a product's life. PLM covers how a product is designed and developed. ERP covers buying materials, producing the product, and selling it. Product Information Management (PIM) covers how the product is presented to customers, with descriptions, images, and marketing attributes.
Data usually moves from one system to the next. When a design is approved, PLM passes the item and its bill of materials to the ERP for production. Basic product data then reaches the PIM, which adds marketing content. Because the same product exists in all three systems, companies often use Master Data Management (MDM) to keep its core details consistent across them.
Who uses PLM?
PLM is used mainly by manufacturers, in industries such as automotive, industrial machinery, electronics, medical devices, and fashion. Engineering and R&D teams create and update designs in it. Manufacturing, quality, and purchasing teams, as well as external suppliers, use it to work from the latest approved version.
