Product Life Cycle Management

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High Quality Content by WIKIPEDIA articles! Product life cycle management is the succession of strategies used by management and a...

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High Quality Content by WIKIPEDIA articles! Product life cycle management is the succession of strategies used by management and as a product goes through its product life cycle. The conditions in which a product is sold changes over time and must be managed as it moves through its succession of stages. The product life cycle goes through multiple phases, involves many professional disciplines, and requires many skills, tools and processes. Product life cycle (PLC) has to do with the life of a product in the market with respect to business/commercial costs and sales measures; whereas product life cycle management (PLM) has more to do with managing descriptions and properties of a product through its development and useful life, mainly from a business/engineering point of view.