PLM (Product Lifecycle Management) is a business strategy that focuses on the collaborative creation, management, dissemination and use of product information in the extended company, which includes customers and suppliers. PLM encompasses the concept of product recall, integrating personnel, processes and information.
Companies implement PLM to meet the following business objectives:
• Time to market reduction;
• Product cost reduction;
• Product quality improvement;
• Assure meeting of norms and regulations;
