What is lifecycle management in SAP?

Product lifecycle management is the process of managing the entire lifecycle of a product from its conception, through design and manufacture, to service, and disposal . PLM integrates people, data, processes, and business. systems and provides a product information backbone for companies and their extended enterprise.

Product lifecycle management (PLM) refers to the handling of a good as it moves through the typical stages of its product life: development and introduction, growth, maturity/stability, and decline . This handling involves both the manufacturing of the good and the marketing of it.

On the PLM Web User Interface (Web UI) for specification management, you can create, change, and display the business object specification for the substance , packaging and recipe properties specification categories.

Product lifecycle management (PLM) is the process of managing a product’s lifecycle from inception, through design and manufacturing, to sales, service, and eventually retirement . As a technology, PLM software helps organizations to develop new products and bring them to market.

Product Lifecycle Management in SAP helps organisations quickly develop and deliver the products that drive their business . SAP PLM provides all round support for all product related processes from beginning of life cycle with product ideation to manufacturing and service.