Product Lifecycle Management makes it possible to command the whole lifespan of a product and the information connected with it. Efficient product lifecycle management enables companies to compete successfully in international and global market. The core of product life cycle management is the creation, preservation and storage of information relating to the company's product and activities in order to ensure the fast, fast and trouble free finding, refining, distribution and reutilization of data required for daily operations. This paper describes phases of product lifecycle and corresponding technologies of Product Lifecycle Management. The paper also describes with a further discussion of the business concept of product lifecycle management, marketing strategies, approaches and benefits of Product Lifecycle Management.
Product Lifecycle Management, Global Market Management, Marketing Strategies
