Product life cycle management PLCM model

The product life cycle management (PLCM) model refers to the framework that guides PLCM. This can include the stages of the product life cycle, the processes and activities involved in bringing a product to market and managing it through its life cycle, and the objectives and benefits of PLCM. A well-designed PLCM model can help companies understand the stages a product goes through, and make informed decisions about the product’s future based on its position in the product life cycle. The PLCM model is critical for companies, as it helps ensure a systematic and effective approach to managing the product life cycle, and maximizing the value generated from their products.