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Product Lifecycle Management (PLM)

Product Lifecycle Management (PLM) refers to the process of managing the entire lifecycle of a product from inception, through engineering design and manufacture, to service and disposal of manufactured products. PLM integrates people, data, processes, and business systems and provides a product information backbone for companies and their extended enterprise.

Example

Apple Inc. utilizes PLM to manage the lifecycle of its products, such as the iPhone. From initial concept to design, manufacturing, and finally to the end of life, Apple carefully manages each stage to ensure the product meets quality standards and customer expectations.