Product Lifecycle Management
The world is everchanging and the electronics industry is under constant development. 10 years ago, designs had longer lifespans, and a component could exist for more than 20 years. Today it is a different story, as the lifespan of a design has more than halved. A component rarely lives longer than five years before becoming obsolete.
Previously, electronic engineers used spreadsheets for documenting products and versions. Now the requirements have changed when it comes to lifespan, traceability, and sharing information with colleagues and suppliers. There is need for a system to provide a single source of truth over the course of the product’s lifecycle. This is where PLM, Product Lifecycle Management, comes into the picture.