Areas of PLM
Within PLM there are five primary areas;
- Systems engineering (SE)
- Product and portfolio management (PPM)
- Product design (CAx)
- Manufacturing process management (MPM)
- Product Data Management (PDM)
Note: While application software is not required for PLM processes, the business complexity and rate of change requires organizations execute as rapidly as possible.
Systems engineering is focused on meeting all requirements, primary meeting customer needs, and coordinating the systems design process by involving all relevant disciplines. Product and portfolio management is focused on managing resource allocation, tracking progress vs. plan for projects in the new product development projects that are in process (or in a holding status). Portfolio management is a tool that assists management in tracking progress on new products and making trade-off decisions when allocating scarce resources.Product design is the process of creating a new product to be sold by a business to its customers. Manufacturing process management is a collection of technologies and methods used to define how products are to be manufactured. Product data management is focused on capturing and maintaining information on products and/or services through their development and useful life.
Read more about this topic: Product Lifecycle Management
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