Towards product lifecycle management (PLM): sate-of-the-art review and future perspectives

In modern global economy, companies are facing ever-increasing challenges for short time-to-market to enter into the market early, for reduced time-to-volume to occupy the market quickly, and for decreased time-to-profit to get return from market shortly. Product Lifecycle Management (PLM) is recognized as one of the key leading technologies to facilitate companies to overcome these challenges. Following this trend, this study proposes a full scenario of technology solutions for PLM based on the complete analysis of economic trends, business models, and recent state-of-the-art review in the domain related to PLM. It is hoped that the proposed PLM technology solutions will form the frontier basis for further research, development and application of PLM system to quickly adapt to the dynamic changing market in near future.