The product development life cycle - innovate, conceptualize, plan, design, procure, produce, deliver, service, and retire - naturally includes multiple people, operating in multiple departments, and typically from multiple companies, each with locations in multiple countries around the world. Solving inherent difficulties that result from managing this complexity are the raison d’être for PLM solutions.
far as to call ERP software a commodity, although that ignores the fact that there are still key differences between many solutions, particularly for different industries. The PLM market, on the other hand, covers a wide range of the above-mentioned previously unrelated software applications and the suites offered from different vendors can vary dramatically. Applications include product portfolio management, project management, resource management, strategic sourcing, design collaboration, visualization,