Product Lifecycle Management

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Recommended: Advantages and disadvantages of product life cycle

Businesses organizations employ enterprise technology to manage value chain by allowing modernizing business processes and improving value chain into their firms. Today, a enterprise technology concept used in organizations, mostly by manufacturers, to manage the value chain would be product lifecycle management(PLM) which represents an all-encompassing vision for managing all data relating to the design, production, to support and ultimate disposal of manufactured goods(Product Lifecycle Management, 2015). Many associate PLM with manufacturing due to its initial conception was introduced for safety and management control in the medical, aerospace, military and nuclear production; however, other industries have implemented …show more content…

Ultimately, enterprise technology brings added value by allowing business organzations to have a better perspective to their value chain by adding efficiency and productivity. Additionally, enterprise technology has allowed business organizations due mostly to the Internet to stay competitive by bringing value into their firms through service velocity,for example, through applications such as Rosetta Net, pervasive devices, and integrated business processes which has opend up new prospects for improving business performance and market intelligence (Operations Research Management Science, …show more content…

Ultimately, product lifecycle management(PLM) offers value to a organization, by instituting procedures that manages both hardware and software objects, for instance, exports data for downstream ERP systems. Finally, there are many essential components elements of the product lifecycle management (PLM) which range from materials content for environmental compliance to controls for multi-user secured access, which include electronic signature (Product Lifecycle Management,

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