Product Life-Cycle Management - Research Proposal Example

The paper "Product Life-Cycle Management" is a perfect example of a management research proposal. Product life cycle management (PLM) in the industry means the process and policy of managing the overall lifecycle of a particular product from the period it is conceived, touching on its through design and its manufacture to its eventual service and disposal. It involves people (manufacturers and customers), processes, business systems, and data. PLM, therefore, aims at providing information about the type of product available for the firm and the entire enterprise.

PLM in relation to customer requirements is under the marketing branch of business and should be distinguished from PLM. Under marketing, it is called Product Life Cycle Management (Marketing) (PLCM). The idea conveyed by PLCM is how the product is managed in its entire life in the market regarding the costs and sales policies. Conversely, PLM deals with how the product is engineered, how its descriptions are managed inclusive of the properties it portrays through its useful life.

The basis of discussion is the PLM, which is the pillar of the company’s information technology structure. Companies are required to enhance the management of information and communication with their clients (customers). This forms what is referred to as Customer Relationship Management (CRM). Consistency in communication with suppliers needs also to be considered and this is achieved through Enterprise Resource Planning (ERP). In this paper, a number of sources will be sought in order to clearly understand how the company can satisfy customer requirements through processes like development, description, management, and communication of vital information concerning their product.

Customers' requirements are dealt with under people-centric PLCM. This phase describes how the product is supposed to be designed in order to satisfy customer requirements. In 2009, ICT sector development (PROMISE project) which is funded by the EU has allowed the application of ‘sensor data’ and ‘life cycle event data’ into the PLCM. More so, it has allowed the information to be availed to all players in the entire life cycle of the product. This has consequently resulted in PLM to include closed-loop lifecycle management.