TECHGuru

Product life cycle management (PLM) market is a process or system used to manage the data and design process associated with the life of a product from its conception and envisioning through its manufacture, to its retirement and disposal. PLM helps to manage the entire lifecycle of a product efficiently and cost-effectively. Today, manufacturers increasingly need to share product data with stakeholders both inside and outside the organization (including engineering, operations, quality, procurement and marketing). Manufacturers need to collaborate, track and regulate changes to the product with their corresponding team. Traditional or on-premise PLM solutions often turn ineffective cost-wise, especially, for the small and medium size businesses. Small and medium size enterprises (SMEs) have been averse to spending high on PLM solutions till recently.  Cloud- based PLM solution is growing in popularity with manufacturers around the world which allows them to consolidate informatio...