Product Lifecycle Management (PLM) software integrates each of the processes required to design, build, deploy and maintain products. Organizations use PLM applications to reduce the time and expenses associated with the development, manufacturing and repair or upgrade of their products. Product Lifecycle Management solutions aid in identifying and implementing cost-saving changes to the manufacturing processes, optimizing design engineering and centralizing supplier and part inventory data. Product Lifecycle Management software is related to Enterprise Resource Planning (ERP) software, MRP software and Quality Management software.
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