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Product lifecycle management (PLM) refers to the process of managing a product as it moves through the typical stages of its product life. It is the integration of all aspects of a product from its development to its ultimate decline. The ultimate goal of product lifecycle management is to streamline all the processes and produce a product that outperforms its competitors, is profitable and lasts as long as customer demand and technology allow. Organizations that produce goods face a variety of difficulties that aren’t just related to design and production. PLM addresses and mitigates those difficulties. In this course, you'll learn all the basic concepts related to product lifecycle management. You'll also understand the different stages in the product lifecycle management, and its evolution over a period of time.

00:00 - Introduction
02:03 - Agenda
03:18 - Understanding product lifecycle management
10:10 - The five phases of product development
14:50 - The four stages of PLM
20:35 - Evolution of product lifecycle management
23:53 - Benefits of PLM
27:46 - Product lifecycle management software
30:57 - Closed-loop manufacturing cycle
34:23 - SCM, CRM and PLM
36:36 - Summary

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