Editing Product lifecycle (section)

==Benefits==
Documented benefits of product lifecycle management include:<ref>{{cite web|last=Day|first=Martyn |title=What is PLM |work=Cad Digest |date=15 April 2002|url= http://www.caddigest.com/subjects/PLM/select/day_plm.htm |access-date=25 February 2012 |archive-url= https://web.archive.org/web/20151022235010/http://www.caddigest.com/subjects/PLM/select/day_plm.htm |archive-date=22 October 2015 |url-status=dead}}</ref><ref>{{cite journal|last=Hill |first=Sidney |title=A winning strategy |journal=Manufacturing Business Technology |date=September 2006 |url= http://www.plm.automation.siemens.com/zh_cn/Images/MBT_Lockheed-Martin_CoverStory_eprint_tcm78-3190.pdf |access-date=25 February 2012}}</ref>
* Reduced [[time to market]]
* Increase full-price sales
* Improved product quality and reliability
* Reduced [[prototyping]] costs
* More accurate and timely requests for quote generation
* Ability to quickly identify potential sales opportunities and revenue contributions
* Savings through the re-use of original data
* A [[Conceptual framework|framework]] for product optimization
* Reduced waste
* Savings through the complete integration of engineering workflows
* Documentation that can assist in proving compliance for [[RoHS]] or [[Title 21 CFR Part 11]]
* Ability to provide contract manufacturers with access to a centralized product record
* Seasonal fluctuation management
* Improved forecasting to reduce material costs
* Maximize [[supply chain collaboration]]