Success determinants to Product Lifecycle Management (PLM) performance

Product Lifecycle Management (PLM) is a current need for companies to be competitive in the global market. PLM became a necessity to work collaboratively with least time and cost for the best quality production. PLM offerings are not only limited to 3D designing and visualization but also extended to data management, digitization, and virtual manufacturing. PLM is a management approach which manages the related product information in each phase of the product's lifecycle. Various companies and systems suppliers consider PLM as software systems only while it is a broad business management concept. Due to this ambiguity, most companies fail to understand and implement it properly. PLM is actually a concept which is backed up by PLM systems as the enormous product-related data needs technological support to manage. Implementation of PLM systems is complementary to the institutionalization of the PLM concept. Hence, present study reviews success factors to PLM performance and empirically analyzes causal success factors. This work will be helpful to the managers in industries to utilize this unique approach to manage their products.