Describe product lifecycle management (PLM) software and identify the type of data stored in such a system.
What will be an ideal response?
Product lifecycle management (PLM) software provides a means for managing the data and processes associated with the various phases of the lifecycle of a product, including sales and marketing, research and development, concept development, product design, prototyping and testing, manufacturing process design, production and assembly, delivery and product installation, service and support, and product retirement and replacement. As products advance through these stages, product data is generated and distributed to various groups both within and outside the manufacturing firm. This data includes design and process documents, bill of material definitions, product attributes, product formulations, and documents needed for FDA and environmental compliance. PLM software provides support for the key functions of configuration management, document management, engineering change management, release management, and collaboration with suppliers and original equipment manufacturers (OEMs).
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