What does "Product Lifecycle Management" (PLM) address in Materiel Management?

"Product Lifecycle Management" (PLM) is a comprehensive approach that encompasses the entire lifecycle of a product, from its initial creation and design to its production, utilization, and ultimately, disposal. This holistic view ensures that every aspect of the product's journey is managed efficiently, including design optimization, compliance with regulations, resource allocation, and sustainability practices. By addressing all phases of the product lifecycle, PLM aids in enhancing product quality, reducing time to market, and achieving cost-effective production.

In the context of Materiel Management, PLM plays a critical role in integrating various functions such as engineering, supply chain management, and inventory control, allowing organizations to respond more agilely to changes in market demands and technological advancements. This ensures that products not only meet customer expectations throughout their lifecycle but also align with organizational goals for sustainability and efficiency.