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A generic lifecycle of products. In industry, product lifecycle management (PLM) is the process of managing the entire lifecycle of a product from its inception through the engineering, design, and manufacture, as well as the service and disposal of manufactured products.
Product management is the business process of planning, developing, launching, and managing a product or service. It includes the entire lifecycle of a product, from ideation to development to go to market .
Product life-cycle management (PLM) is the succession of strategies by business management as a product goes through its life-cycle. The conditions in which a product is sold (advertising, saturation) changes over time and must be managed as it moves through its succession of stages.
The Hayes-Wheelwright Matrix, also known as the product-process matrix, is a tool to analyze the fit between a chosen product positioning and manufacturing process. The first dimension of the matrix, the product lifecycle, is a measure of the maturity of the product or market. It ranges from highly customized products with low volumes, to ...
Application lifecycle management (ALM) is the product lifecycle management (governance, development, and maintenance) of computer programs. It encompasses requirements management , software architecture , computer programming , software testing , software maintenance , change management , continuous integration , project management , and ...
The Product Life Cycle Theory is an economic theory that was developed by Raymond Vernon in response to the failure of the Heckscher–Ohlin model to explain the observed pattern of international trade. The theory suggests that early in a product's life-cycle all the parts and labor associated with that product come from the area where it was ...
The so-called "digital thread" runs across a product's entire cycle, from its initial design using CAD through manufacturing using product lifecycle management (PLM), servicing using service ...
Figure 4. Example of different business processes depending on configuration lifecycle management. Behind the seemingly simple process of configuring and ordering a configurable product, such as a car, lie several business processes of which configuration is an essential part:
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