PLM, or Product Lifecycle Management, means how to manage all processes related to product development, from its concept to its withdrawal from the market.
PLM is a strategic approach to business matters. It is a coherent package of solutions to support the joint creation, management and use of information containing a product definition in a production company or corporation.
It contains and works with information from the product concept to the end of the life cycle. Integrates people, processes and information systems supporting business management.