What is Product Lifecycle?

 What is Product Lifecycle?

What is Product Lifecycle?

Description

The product lifecycle is the process of controlling the whole lifecycle of a product. It starts from creation through engineering design and manufacture to service and disposal of industrial products. The Product Lifecycle Management mixes persons, data, processes and business systems. This also delivers a product information support for companies and their long enterprise. The motivation for the growing business process now known as Product Lifecycle Management originated from American Motors Corporation (AMC).

Methods​

Product Lifecycle Management (PLM)

This method defines the engineering aspect of a product from dealing descriptions and properties of a product via its progress and useful life. It reflected one of the four bases of an industrial corporation’s information technology structure.

Product life-cycle Management Marketing (PLCM)

This form shapes to the saleable management of life of a product in the corporate market with respect to costs and sales measures.

People-centric PLM

This form targets the design phase whereas traditional PLM tools have been organized only on statement or during the release phase.

Closed-loop lifecycle management (CL2M)

The EU funded PROMISE project 2004-2008 named ICT development has permitted PLM to spread outside traditional PLM and incorporate sensor data and real time lifecycle event data into PLM..

Benefits of PLM

  • Recognized benefits of product lifecycle management are;

  • Concentrated time to market

  • Raise the full price sales

  • Enhanced product quality and dependability

  • Cheap prototyping costs

  • Additional precise and timely request for quote generation

  • Skill to rapidly classify possible sales opportunities and revenue aids

  • Investments over and done with the re-use of original data

  • An outline for product optimization

  • Waste reduction

  • Funds through the complete addition of engineering workflows

  • Capability to deliver deal producers with contact to a central product record

  • Regular variation management

  • Better predicting to decrease material costs

  • Exploit supply chain teamwork

Parts of PLM​

There are five main areas within PLM.

1. Systems Engineering (SE)

This part is concentrated on gathering all requirements mainly meeting customer requirements and organizing the systems design process by involving all relevant disciplines. The life cycle management is a subsection within Systems Engineering called Reliability Engineering.

2. Product and portfolio m² (PPM)

This area is focused on managing reserve distribution, chasing development, strategy for new product development projects that are in process. It is a tool which supports management in chasing development on new products and making trade-off decisions when assigning rare resources.

3. Product design (CAx)

This is the process of making a new product to be sold by a commercial to its clients.

4. Manufacturing process management (MPM)

This is a group of technologies and methods used to describe how products are to be manufactured.

5. Product data management (PDM)

This is concentrated on taking and maintaining information on products and services through their growth and useful life. The change management is a significant part of PDM and PLM.

Stages of product lifecycle and parallel technologies​

Stage 1: Conceive​

Imagine, specify, plan, and innovate​

The first phase is the description of the product requirements. It is founded on views of client, business, market and regulatory bodies. The products main technical parameters may be defined from this specification. The first concept design work is done important the aesthetics of the product composed with its chief functional aspects. Numerous media are used for these processes. They are included from pencil and paper to clay models to 3D CAID computer-aided manufacturing design software.

The asset of incomes into investigation and analysis-of-options can be comprised in the conception phase, for example getting the technology to a level of maturity enough to change to the next phase in some ideas.

Stage 2: Design​

Describe, define, develop, test, analyze and validate​

This is phase wherever the full design and development of the products form starts. It begins developing to prototype testing over pilot announcement to full product presentation. It may moreover include redesign and slope for development to current products in addition to strategic uselessness. The CAD is a tool used for design and development. This may be artless 2D drawing or drafting. It can also be 3D parametric feature built solid or surface modeling.

Stage 3: Realize​

Manufacture, make, build, procure, produce, sell and deliver​

The process of manufacturing is defined once the design of the product’s components is complete. This contains tasks of CAD for instance tool design. In tool designing, including formation of CNC machining instructions for the products parts in addition to making of exact tools to produce those parts. This would also include examination tools for process simulation of operations for example casting, molding, and die-press forming. The CPM comes into play once the industrial method has been recognized.

Stage 4: Service​

Use, operate, uphold, funding, withstand, phase-out, retire, recycle and disposal​

The last stage of the lifecycle includes handling in-service information. This may comprise as long as clients and service engineers with the support and information compulsory for repair and maintenance, besides waste management or recycling. This may contain the use of tools for example Maintenance, Repair and Operations software.

Six (6) Stages of Product Life Cycle ~ Type Writer Case Study

  1. Development: The overall idea had been developed in 1575 before the first commercial typewriter was introduced to the market.
  2. Introduction: In the late 1800’s ~ the first commercial typewriters were introduced.
  3. Growth: The typewriter became an indispensable tool for all forms of writing, becoming widely used in offices, businesses, and private homes.
  4. Maturity: Typewriters were in the maturity phase for nearly 100 years – as this was the main product for typing communications until the 1980’s.
  5. Saturation: During the saturation stage ~ typewriters began to face tough competition from new technology – PC’s & laptops in the 1990’s having advanced word processing software.
  6. Decline: The typewriter couldn’t withstand the competition of new emerging technologies & eventually it became outdated & today all typewriter manufacturing companies are closed down.

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