How We Chose the Best Product Life Cycle Management (PLM) Software
A product life cycle management (PLM) system helps manage and view the development steps of a product from inception to the distribution phase. With a PLM system, companies can integrate data, people, processes, and business-related systems.
The best product life cycle management software helps tabulate complex product development systems. However, not every software can validate your product’s life cycle process cohesively.
To help you with it, we've chosen the five of the best product life cycle management softwares available based on three criteria.
Life Cycle Management Features
Our initial approach is to identify the vital features that make a software ideal for managing the product life cycle. Any PLM software must include functions like change management, requirements management, and cost tracking. These features enable the organization to minimize the risks, lead to optimal utilization of resources, and boost productivity while speeding up the development process.
A PLM system’s ability to build a symbiotic relationship with other organization-oriented solutions is the second criteria in our selection process. We find out how well PLM software works with CRMs, ERPs, and even other PLM solutions to help you realize your production goals.
Lastly, it's important for the best product life cycle management software to provide standardized and custom reports for deep development and product insights. Reporting helps fill the void, create contingency plans, and make the necessary changes to production, management, and distribution processes.