Systematic Approach of the Product Lifecycle Components

Today, companies across numerous industries find themselves on the cusp of a product development revolution. The incorporation of software and electronics into mechanical-based products is driving a wave of new innovation as products become more like intelligent systems that are interactive, proactive, changeable and upgradable. With software and electronics driving so much new product value, leading companies have begun to view and develop their products as systems. Top companies take a systemsbased approach that requires simultaneous and connected development to occur between software, electronics and mechanical functions at the earliest design stages and continue throughout the product development cycle. The purpose of this article is to address the new vision of the PLM concept starting from the impact that intelligent systems, internet, globalization and collaborative engineering brings.