What is Product Lifecycle Management in SAP LO - Logistics - General?

SAP Term: Product Lifecycle Management

• Component: LO

• Component Name: Logistics - General

• Description: A suite of solutions for creating and maintaining digital product information company-wide and throughout the life cycle of a product, and making it available on the Internet. PLM combines the management of product and process data with other applications. A range of functions from the following applications is available: Life-cycle data management Program and project management Life-cycle collaboration Environment, health and safety

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• Key Concepts: 
  Product Lifecycle Management (PLM) is a set of processes and tools used to manage the entire lifecycle of a product from its conception and design to its manufacture, distribution, and disposal. It is a part of the LO Logistics - General component of SAP software. 
  
  How to use it: 
  PLM in SAP helps companies manage their product data, track changes, and collaborate with stakeholders throughout the product lifecycle. It also helps companies optimize their processes and reduce costs. With PLM, companies can manage product information, design processes, and collaborate with suppliers and customers. 
  
  Tips & Tricks: 
  When using PLM in SAP, it is important to ensure that all stakeholders are kept up-to-date on changes to the product lifecycle. This can be done by setting up notifications for when changes are made or when new versions of the product are released. Additionally, it is important to ensure that all product data is accurate and up-to-date. 
  
  Related Information: 
  For more information on Product Lifecycle Management in SAP, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SAP_PLM/7.5/en-US