Product Lifecycle Management (PLM) is a process intended to help organizations manage product-related information and optimize the product’s journey from conception, through development and production, to end of life. It’s a unified system which ensures that product data is shared and accessible among different teams throughout the lifecycle of a product. By utilizing this PLM process, businesses strive to reduce costs, maintain compliance with regulations, improve cycle times, enhance product quality and performance, minimize time to market, leverage best practices, and simplify regulatory and reporting processes. In short: PLM helps companies ensure their products reach users in an efficient and cost-effective manner.