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Achilles will be announcing partnerships for Product Lifecycle Management products soon. Watch out for this space!

Product life cycle management (or PLM) is the succession of strategies used by business management as a product goes through its life cycle. Just like human beings, products also have their own life-cycle. As product goes from cradle to grave, it undergoes multiple phases, involves many professional disciplines, and requires many skills, tools and processes.

As enterprises continue to seek ways to compete more effectively and achieve success in their own markets, a critical component is to more effectively utilize information technologies to enable process changes to successfully address their challenges and gain a competitive advantage. The introduction of PLM will support companies in the full lifecycle of their products and accelerate business performance using a combination of process, organization, methodology, and technology.

While the high level vision of PLM is broad and all encompassing, its traditional and actual usage has been more modest. The evolution of PLM comes from the changing PLM footprint that companies pursue, and it comes from the expansion that focuses on product data management / engineering design to one that encompasses a range of activities, from early-stage product strategy development and planning, to product engineering and manufacturing engineering, cost/quality control, regulation/compliance and through product maintenance and support. 

A good PLM system should manage the enterprise product record, the single system of record for product information required to maximize profitability throughout the lifecycle. Containing the rich information that uniquely defines all aspects of a product at each stage in its lifecycle, the product record includes all of the information required by the across a global product network to conceptualize, design, source, build, sell, service and dispose of products. Through a broad suite of best practice, business-ready solutions, PLM system provides secure, timely, visibility and control of product information for PLM processes and for stakeholders across a global product network. It helps companies accelerate revenue, drive innovation, reduce costs, improve quality, and ensure regulatory compliance throughout the product lifecycle.