Product life-cycle management
Management of product life cycle (PLM) is the process of managing the entire lifecycle of a product concept, design and manufacturing, and service provision
In other words, the PLM is a managerial technique used to pay close attention to material and information flow for the product, and managing product planning and design, procurement, production, sales, maintenance, reuse, and recycling.
Product life cycle management technology enables manufactures to manage and share complex design and productions information across an extended enterprise, whit the goal of streamlining the product development process.
The Products have a distinct life cycle, beginning with conception of new technology and ending with the decline and eventual discontinuation of a product as new products replace it.
Simplifies the life-cycle into these steps:
1. The startup step involves a new Product or company, low volume, and a small company.
2.The rapid-growth step ocurrs when product become standardized and volume increases rapidly. The company´s ability to meet demand often stresses its capacity.
3.The maturation step evolves when standard designs emerge. Process development is important here.
4. The comodity steps includes the long life. standard -of-the-industry product.
5. The decline-and- death steps occurs when a product is slolwy replaced by an improved product and the dies.
In other words, the PLM is a managerial technique used to pay close attention to material and information flow for the product, and managing product planning and design, procurement, production, sales, maintenance, reuse, and recycling.
Product life cycle management technology enables manufactures to manage and share complex design and productions information across an extended enterprise, whit the goal of streamlining the product development process.
The Products have a distinct life cycle, beginning with conception of new technology and ending with the decline and eventual discontinuation of a product as new products replace it.
Simplifies the life-cycle into these steps:
1. The startup step involves a new Product or company, low volume, and a small company.
2.The rapid-growth step ocurrs when product become standardized and volume increases rapidly. The company´s ability to meet demand often stresses its capacity.
3.The maturation step evolves when standard designs emerge. Process development is important here.
4. The comodity steps includes the long life. standard -of-the-industry product.
5. The decline-and- death steps occurs when a product is slolwy replaced by an improved product and the dies.
Benefits
Documented benefits of product lifecycle management include:
1. Reduced time to market
2. Improved product quality
3. Reduced prototyping costs
4. More accurate and timely Request For Quote generation
5. Ability to quickly identify potential sales opportunities and revenue contributions
6. Savings through the re-use of original data
7. A framework for product optimization
8. Reduced waste
9. Savings through the complete integration of engineering workflows
10. Documentation that can assist in proving Compliance for RoHS or Title 21 CFR Part 11
11. Ability to provide Contract Manufacturers with access to a centralized product record
