PLM (Product Lifecycle Management) is the term which encompasses all existing enterprise systems into one coherent system. It ideally consists of a set of software tools used for design, analysis and manufacturing. We have been hearing the common terms like CAD (Computer Aided Design), CAM (Computer Aided Manufacturing), CAA (Computer Aided Analysis), CAE (Computer Aided Engineering) & ERP (Enterprise Resource Planning) till now, but PLM is even much more than these, even when combined together¡¦

Usually, PLM is assembled from various software programs, rather than purchased outright as a single commercial off-the-shelf product. Once assembled, a well-designed PLM system will manage product specifications and formulas, provide production histories, create complete product genealogies, and track total product quality. It will also help you to maintain the entire life cycle of the product till it¡¯s end.

As you can see in the image above, PLM is at the core position, interfacing with all other existing systems. It helps companies better manage their products throughout their lifecycle in part by serving as a single central source of product information that can be systematically shared across an extended enterprise and accessed by other systems. Unlike ERP systems, which excel in managing a product's manufacturing data while in production, PLM systems are designed to manage the entire product information from initial concept to end of life.