Glossary for Industry Terms

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Product Lifecycle Management (PLM)

What does PLM mean?

Product Lifecycle Management (PLM) is often seen as the future of manufacturing and the heat of supply chain management software. A PLM Software solution can help companies view their supply chain from a macro level while giving them the ability to streamline production and predict any potential problems or upcoming backlogs in the manufacturing process.

PLM solutions can also help companies predict stock levels and help to generate orders in line with trend data to ensure there are no gaps in stock and issues with supply. Many different users will need to access the product lifecycle management system at various times. Product planners and designers may want to understand refer to the PLM database in order to help shape and determine new ranges or verticals to go into, while brand and production managers will want to look at the PLM on a high level in order to help understand and manage their supply chain in a more efficient manner.

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