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Product life-cycle management (marketing) A model for the product sales lifecycle, with the assumption of four major phases: introduction, growth, maturity, and decline. Curve of sales as a function of the time of the product on the market. After a plateau in sales at product maturity, a steep decline can follow.
In industry, product lifecycle management ( PLM) is the process of managing the entire lifecycle of a product from its inception through the engineering, design and manufacture, as well as the service and disposal of manufactured products. [ 1][ 2] PLM integrates people, data, processes, and business systems and provides a product information ...
Product life-cycle theory. The Product Life Cycle Theory is an economic theory that was developed by Raymond Vernon in response to the failure of the Heckscher–Ohlin model to explain the observed pattern of international trade. The theory suggests that early in a product's life-cycle all the parts and labor associated with that product come ...
Through optimizing product designs, manufacturing processes, and end-of-life management, LCA aims to maximize the use of the world's limited resources and minimize the unnecessary generation of waste. In summary, the product lifecycle framework underscores the importance of a holistic approach to product design, use, and disposal.
Records management, also known as records and information management, is an organizational function devoted to the management of information in an organization throughout its life cycle, from the time of creation or receipt to its eventual disposition. This includes identifying, classifying, storing, securing, retrieving, tracking and ...
Product data management (PDM) is the name of a business function within product lifecycle management (PLM) that denotes the management and publication of product data. [1] In software engineering, this is known as version control. The goals of product data management include ensuring all stakeholders share a common understanding, that confusion ...
Product management is the business process of planning, developing, launching, and managing a product or service. It includes the entire lifecycle of a product, from ideation to development to go to market. Product managers are responsible for ensuring that a product meets the needs of its target market and contributes to the business strategy ...
Application lifecycle management ( ALM) is the product lifecycle management ( governance, development, and maintenance) of computer programs. It encompasses requirements management, software architecture, computer programming, software testing, software maintenance, change management, continuous integration, project management, and release ...