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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 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 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 ...
Prince was built 1863 and operated 1864–1936, 1955–1968, 1980-present, a product life of over 150 years, a service life of around 125 years. Product lifetime or product lifespan is the time interval from when a product is sold to when it is discarded. [1] Product lifetime is slightly different from service life because the latter considers ...
The technology life cycle (TLC) describes the commercial gain of a product through the expense of research and development phase, and the financial return during its "vital life". Some technologies, such as steel, paper or cement manufacturing, have a long lifespan (with minor variations in technology incorporated with time) while in other ...
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 .
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 ...
Life-cycle engineering (LCE) is a sustainability-oriented engineering methodology that takes into account the comprehensive technical, environmental, and economic impacts of decisions within the product life cycle. Alternatively, it can be defined as "sustainability-oriented product development activities within the scope of one to several ...