PLM is a strategic business approach

Corallo et al (2013:6) divide the features of PLM into managerial, technological and collaborative and comprehensively define PLM as “a strategic business approach that supports all the phases of product lifecycle, from concept to disposal, providing a unique and timed product data source. Integrating people, processes, and technologies and assuring information consistency, traceability, and long-term archiving, PLM enables organizations to collaborate within and across the extended enterprise.”

Full article

Corallo A.,  Latino M.E.,  Lazoi M., Lettera S.,  Marra M., and  Verardi S., “Defining Product Lifecycle Management: A Journey across Features, Definitions, and Concepts,” ISRN Industrial Engineering, vol. 2013, Article ID 170812, 10 pages, 2013. doi:10.1155/2013/170812

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Image source: PTC, http://blogs.ptc.com/

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