Product lifecycle management, or PLM, is first and foremost a business discipline, the goal of which is to eliminate waste and improve efficiency. All too often, though, PLM solutions only address the technical or production layer - not the business decision-making that proceeds the actual manufacture of a product. This article from The Manufacturer attempts to outline the importance of PLM as one of four cornerstones processes for reducing a company's business risk.
Sopheon
Founded in 1993
Located in Bloomington, MN
https://www.sopheon.com/product-lifecycle-management-plm/