Product Development Lifecycle Management (PDLM) is a comprehensive and systematic approach to managing the entire life cycle of a product. From concept to launch and beyond, PDLM is focused on the planning, development, and execution of activities that will help a product meet its original objectives and maximize customer satisfaction. It involves careful consideration of customer feedback, budgeting, marketing strategies, supplier relations, production resources, shipping logistics, legal regulations, and more. By employing PDLM to manage a product’s journey through every stage in its lifecycle, businesses are able to ensure their products are consistently successful and profitable.