What is PLM? A Complete Guide for Product Lifecycle Management

Albert Shepherd updated on 2024-06-06 13:44:58

It's challenging to cope with the current market level. If you're newer to the market, it will take years to establish your business to fulfill the current market challenges. The last thing you do, you start an online store or any other company and couldn't able to generate a single success for your business.

This happens to everyone not only to you because you didn't create any feasibility or followed any marketing steps that need to be done before starting your business. That's why we've decided to create a complete guideline on the PLM system so you can compete in today's market. In this article, we'll also the different PLM software and how to use them. For that, you've to follow every single word of this article.

What is PLM?

For you to better understand the concept of PLM, we've divided this section into two categories;

  1. PLM
  2. PLM Software

1. PLM

As you all know, PLM stands for Product Lifecycle Management. PLM is a lifecycle of the entire managing process of a product from inception with engineering design to service and disposal of manufactured products. Generally, PLM is the backbone of the organizations and their outside industries.

2. PLM Software

On the other hand, PLM software provides solutions that handle all the information at each and every step of the product across worldwide supply chains. PLM software includes data from items, product parts, documentation and requirements, and most importantly, the quality workflow. Nowadays, PLM software is rapidly transforming the business because it provides a globalize foundation to the enterprise and keeps the record for product supply chain strategy.

In short, PLM software provides collaboration between enterprises to be wholly involved in its lifecycle by working with everyone from the central source.

The Features of PLM software

Many PLM software is available for project management purposes. Every software has its own features that can differ from one another. We're not going in-depth about features. Here we'll discuss those features which are common in every PLM software.

Some critical features of PLM software are as follows:

  • Tools for managing the product structure such as documents, data items, and derived BOMs (Bill of material).
  • Complete lifecycle management like status updates, revisions, and versions.
  • CAD for data importation.
  • Automatic generation of the product catalog.
  • Gantt charts for managing and monitoring the project.
  • A flexible environment like changing management. It's the most important feature in PML software. It's a frequently used feature in the PLM system.
  • Most PLM software offers user privilege management. It's a must thing in every PLM system, so whoever created an item should have the privilege to modify and reverse the item.
  • Information retrieval of extensive information about the product. This feature is only for large organizations that manage a large number of products at the same time.

  • Workflow management or user management is also an essential feature of PLM software and available almost in every PLM software.
  • An efficient and robust file system; That means a system must be capable of storing a massive amount of data in seconds.

How to Use PLM software?

Well, so far, we've discussed all about what is PML, and its features, but now it's time to know how to use PLM software?

There are some things to be considered while implementing PLM software.

Although a PLM system can be the best and smart solution for your business, there are things that you must consider before investing in the PLM system. PLM system can be a complicated process for the new company.

plm software

Here are some things to be considered before implementing the PLM system:

  • Is there any PLM system already installed? Or you're installing for the first time? If you're installing the system for the first time, then it needs and additional training for your crew on how to maneuver the system.
  • If you already have the PLM system installed, will it be replaceable or expendable? If you're planning to replace the older PLM system with a newer version, it can be challenging to transit between the existing system.
  • Must define a goal, what PLM will help you to succeed? It's just a project management tool like any other tool, without any plan or purpose of use, it's useless.
  • Choose the right platform is more critical of all. You're running an IT business and installed a PLM solution, the last thing you did the installation of a PLM system for the fashion-related system.
  • Configure your PLM system according to your product needs. Only configure those settings that are relatable to your product. Don't try to drop a bomb on your system by configuring useless settings.

Well, these were the most common and important things before using the PLM system. Indeed, it will take some time to understand the PLM environment completely.

PDM and PLM: What's the Difference?

The most frequent question asked by the people is “What is the difference between PDM and PLM?”

plm system

The difference between PDM and PLM starts with their proper definitions. Let us clarify first through its definitions. The difference between them is hidden in their abbreviation.

As you all know that Project Lifecycle Management is a tool that guides the entire product development lifecycle. It gives the organizations a more reliable workflow, CAD/BOM syncing, and robust file system.

On the other hand, PDM (Product Data Management) is also a tool that manages the product data throughout the entire lifecycle.

In short, PDM controls the process of product development, whereas PDM is responsible for digital data that moves within the PLM process.

In reality, PDM and PLM both are software solutions that modern industries can use to improve their business. Both are the two different sides of the same coin. Either you flip the coin to the PLM side or vice versa. To some extent, you'll be needing both these tools for your business. Yes, you're thinking right both these aren't a matter of choice. It's a matter of self-belief which tool you need to do your work.

For those enterprises who use CAD tools at regular intervals, we'd prefer they must go with PDM at first purchase. The reason is PDM solution is less expensive as compared to the PLM system. However, it would be a grave mistake if you make a full stop at PDM.

Perhaps, there isn't a comparison between PLM and PDM all you can see is just a love story. Well, this section of this article was all about the ridiculous love story of PDM and PLM, which came to a happy end. Now, it's time to move to another story of the best tool for product managers combining with PLM.

Good Tool for Product Manager Combine with PLM

Well, well, if you're a product manager working in a fashion designer, graphic designer, or IT company, Wondershare Mockitt can be your more immense assistance combining with PLM. With its collaboration capabilities, you can manage your team efficiently.

plm applications

Mockitt is not a tool like PLM or PDM; it's completely different from both of them. Wondershare Mockitt is a prototyping or graphic designing tool, can be helpful in fashion, or graphic designing industries. With Mockitt, you can create unique graphic designs, portraits, effects, animations, and much more that.

Mockitt is not limited to fashion or graphic designing industries, but it can also be used in professional business. You can create flowcharts and other business process flowcharts on it. Plus, you can create a business presentation with the help of professional templates made by top-quality graphic designers.

Some essential features, you would find in Wondershare Mockitt are as follows:

  • Creative Animations
  • Collaboration with team members
  • Widgets
  • Drag and Drop functionality
  • Cloud Support
  • Wireframing
  • Interactive and Multiple Screens
  • Social Sharing
  • Sketch Plugin
  • 24/7 Customer Support Service

Well, that's was all about from our side, we've tried our best to give you every knowledge that we know about PLM.