• Product lifecycle management (PLM) is the process of managing the entire lifecycle of a product or service, from idea to retirement.
• PLM helps organizations to innovate, develop, and commercialize products and services faster, better, and more cost-effectively.
• PLM involves managing data, processes, people, and systems across different functions and stages of the product lifecycle, such as ideation, design, engineering, manufacturing, quality, marketing, sales, service, and disposal.

Why is PLM important?

• PLM is important because it enables organizations to:
  • Align their product strategy with their business goals and customer needs
  • Capture and prioritize the best ideas for new products and services
  • Streamline and standardize product development workflows and approvals
  • Reduce product development costs and risks
  • Improve product quality and compliance
  • Enhance collaboration and communication among internal and external stakeholders
  • Increase product profitability and market share

How does Oracle Fusion Cloud PLM help?

• Oracle Fusion Cloud PLM is a cloud-based solution that helps organizations to implement best practices for PLM on a single platform.
• Oracle Fusion Cloud PLM provides the following capabilities:
  • Innovation management: Capture, evaluate, and select the most valuable ideas for new products, services, markets, or customer experiences. Manage requirements and concepts, and balance your innovation portfolio across different types of initiatives.
  • Product development: Define, design, engineer, and launch new products and services faster and more efficiently. Manage items, parts, products, documents, requirements, engineering change orders, and quality workflows across globalized supply chains. Integrate seamlessly with computer-aided design (CAD) systems.
  • Quality management: Ensure product quality and reliability throughout the product lifecycle. Manage quality issues, corrective actions, preventive actions, audits, inspections, nonconformance reports, supplier quality management, and customer feedback.
  • Product master data management (MDM): Create and maintain a single source of truth for your product data across your enterprise. Manage product attributes, classifications, hierarchies, catalogs, structures, cross-references, relationships, translations, and governance.
  • Configurator modeling: Define and manage complex product configurations and rules for your configurable products. Enable customers to configure their own products according to their preferences and requirements.

How to get started with Oracle Fusion Cloud PLM?

• To get started with Oracle Fusion Cloud PLM, you can:
  • Request a demo to see how Oracle Fusion Cloud PLM can help you accelerate innovation and new product introductions
  • Take a free PLM assessment to discover your current PLM maturity level and identify areas for improvement
  • Learn more about Oracle Fusion Cloud PLM by reading the data sheet (PDF), the ebook (PDF), or watching the video (2:09)
  • Contact Oracle to discuss your PLM needs and explore how Oracle Fusion Cloud PLM can help you achieve your business objectives