This article will help you quickly compare and evaluate the best product lifecycle management software and other PLM solutions.
Product lifecycle management is a process in which companies can track, control, and influence the introduction and growth of their product in order to keep it relevant in the market for as long as possible. PLM solutions are important in eCommerce operations because they provide a central place for managing the development, design, launch, and marketing of a product from start to finish.
In this post, I’ll highlight a few of the best PLM package options for enterprise lifecycle control and give a synopsis of some noteworthy product management tools currently on the market.
PLM Software vs PDM Software
PDM vs PLM…what’s the difference? Product lifecycle management (PLM) and product data management (PDM) share some similarities, namely that they are both centered around processes designed to unify and control a business asset—be it a product/service item or a collection of data. Sometimes these two processes meet in “product data management” operations, which do all of the above.
PLM tools are centered around the planning, design, execution, testing, launch, and marketing of a single product or series of products. PLM is a strategic business approach that touches many areas of the product development ecosystem and can be useful for everyone from engineers to stakeholders.
PLM tends to encompass:
Milestones or stage gates
Change management processes.
PDM tools, on the other hand, are all about the collection, navigation, storage, and security of a different type of asset: data. PDM focuses on being fast and easy to maintain; it is a tool only for engineers and tends to be cheaper than the “all-encompassing” nature of PLM.
PDM tends to encompass:
Controlling and maintaining a “master file”
Tracking each change with each new version update
Assigning part numbers for each part/file across the overarching assembly
Have some questions about the processes and tools used across a product lifespan? Check out this handy FAQ.
What is PLM software?
Product Lifecycle Management (PLM) software is a digital tool that helps to manage the resources required to design, launch, test, market, and administrate a product or service. PLM software will most likely have functions to oversee data, processes, business systems, and people/time resources.
What is Database Lifecycle Management?
Database lifecycle management is similar to product lifestyle management in that it is a process by which to navigate the creation, development, marketing, and launch of a commodity or goods. Database lifecycle management, however, is a policy-driven approach to managing data assets, databases, and database-related items in particular.
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Overviews Of The Top PLM Application Options
Here’s a brief description of each of the PLM process tools that are featured on this top 10 PLM software list.