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PLM product lifecycle (or life cycle) management (PLM)

PLM (Product Lifecycle Management) is a strategy for managing all data, processes, and activities associated with the development and lifecycle of a product. It encompasses the entire product development process, from ideation to retirement, and aims to improve product development efficiency, reduce costs, and increase product innovation. PLM helps organizations manage their product information, design and engineering data, supply chain management, and product lifecycle operations in a centralized, integrated manner.

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