Posted by: Margaret Rouse
PLM, product lifecycle management, Technology
|Companies often use lifecycle management as a last ditch effort, a “Hail Mary” pass…In reality, product lifecycle management is a difficult task. The root of its difficulty lies in its proactive nature.|
Companies naturally take reactive stances to their products as they move through their lifecycles, responding to ebbs and flows in profits, reacting to competition, worrying about the inevitable patent expiration. Product lifecycle management must be a proactive initiative. It must be a key organizational aspect of the company and not a burden, a positive force for profit and for the future of the business. And that’s a difficult transition.