PLM Intro

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Dr. G.V.

Patil
Product lifecycle management (PLM) refers
to the handling of a good as it moves through
the typical stages of its product life:
development and introduction, growth,
maturity/stability, and decline. This handling
involves both the manufacturing of the good
and the marketing of it. The concept of
product life cycle helps inform business
decision-making, from pricing and promotion
to expansion or cost-cutting.

Effective product life cycle management


brings together the many companies,
departments, and employees involved with the
product's production to streamline their
activities, with the ultimate goal of producing
a product that outperforms its competitors, is
highly profitable, and lasts as long at
consumer desire and technology permit. It
goes well beyond just setting up a 
bill of materials.
NEED for PLM

The business environment is rapidly changing and becoming extremely


competitive.

Organizations can no longer afford to take a lot of time to develop and introduce
their products to the market.

Also in line with the various business processes, which too are getting more
complex with time, the products are also evolving and getting more advanced.

This has created a need for the businesses to have a better operational model to
support the product development, precisely because in its absence, it will be
challenging for the businesses to manage all the different aspects of creating a new
product. And in such scenario, product development will inevitably run late and
exceed its budget.

The need of the hour for the organizations is to make the product development
process more transparent and improve the efficiencies.

 This will lead to more innovations, shorter product development cycles, and faster
time-to-market, among other things. And what helps them in achieving all this? A
PLM system.
THANK YOU
The essential elements of PLM are:

Management of design and process documents

Product structure (bill of material) management

Central data vault (electronic file repository)

Part and document classification and metadata ("attribute") management

Materials content identification for environmental compliance

Product-focused project task assignment

Workflow and process management for approving changes

Multi-user secured access, including "electronic signature“

Data export for loading downstream ERP systems


One of the core business
components of PLM includes
product data management
(PDM) concepts.

The data vault exists as a central


repository of information to
which users have controlled
access. Once a company
centralizes the data, it must be
controlled to prevent multiple
people from attempting to edit
documents simultaneously.

Additionally, the data must be


revision controlled. Centralized
vaulting, single user and file
revisioning, comprise the core
components of a PDM strategy.

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