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Many software solutions have developed to organize and integrate the different phases of a product’s lifecycle. PLM should not be seen as a single software product but a collection of software tools and working methods integrated together to address either single stages of the lifecycle or connect different tasks or manage the whole process. Some software providers cover the whole PLM range while others single niche application. Some applications can span many fields of PLM with different modules within the same data model. An overview of the fields within PLM is covered here. It should be noted however that the simple classifications do not always fit exactly, many areas overlap and many software products cover more than one area or do not fit easily into one category. It should also not be forgotten that one of the main goals of PLM is to collect knowledge that can be reused for other projects and to coordinate simultaneous concurrent development of many products. It is about business processes, people and methods as much as software application solutions. Although PLM is mainly associated with engineering tasks it also involves marketing activities such as product portfolio management (PPM), particularly with regards to new product development (NPD). There are several life-cycle models in industry to consider, but most are rather similar. What follows below is one possible life-cycle model; while it emphasizes hardware-oriented products, similar phases would describe any form of product or service, including non-technical or software-based products
mySAP PLM have all the important components of PLM solution.
