Basic Human aspiration for better tomorrow has lead to constant products innovation and continuous product improvement. This has eventually resulted in shorter product life cycle increasing burden on R&D, Project management, Quality, Asset management, Environment, health & safety, logistics and many other teams of enterprise.
PLM is evolved into a enterprise solution that can ease this burden by giving the needed framework and tools by which businesses can evolve a intelligent management mechanism. The infant of 80’s PDM is come way long way to become PLM by adding right areas in its fold like –
- PDM-Product data Management
- PPM-Project and Portfolio management
- Enterprise Asset management
- Quality management
- Environment health & safety
With many big players in the market like PTC, Dassault, Siemens, SAP, ORACLE and many other it’s a clear indication of growth of this technology. With many surveys predicting multi-billion PLM market in days to come its clear indication that this space is heading for uptrend.