PLM Coming of Age: ERP Vendors Take Notice
P.J. Jakovljevic and Jim Brown - July 19, 2004

PLM Background

Product lifecycle management (PLM) is the foundation that supports the management and automation of product lifecycle processes from early product conceptualization to retirement across multiple organization and enterprise boundaries. Critical to the success of any manufacturer is the ability to utilize the latest electronic commerce technologies available for competitive business advantage, i.e., to leverage them as a secure medium for the flow of trading partners’ data, product designs, marketing data and so on—all in near real time. To that end, PLM applications, which typically integrate with existing ERP applications, extend critical product information visibility and processes beyond the Engineering Department and through the supply chain using the Internet. With a PLM solution in place, a company has the ability to automate, monitor and track product development and revision processes with their customers, suppliers, and employees amid the increasing pressures of mass customization, globalization, regulatory compliance, increased outsourcing, and product accountability, to name some market driving forces...