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PLM lifecycle phase (or status or stage)

A PLM lifecycle phase, also known as a status or stage, refers to a specific point in the product lifecycle management (PLM) process where a product or component is at a certain level of development or maturity. The product lifecycle is divided into several phases, each with its own specific characteristics, requirements, and objectives.

The typical phases in a product lifecycle are:

Concept or Idea phase: This is the initial stage of product development where ideas and concepts are generated, evaluated and selected for further development.

Research and Development (R&D) phase: This is the stage where the product is designed, developed, and tested to ensure it meets the desired specifications and requirements.

Industrialization or Production phase: This is the stage where the product is manufactured, assembled and prepared for market launch.

Launch or Introduction phase: This is the stage where the product is introduced to the market, and sales and marketing efforts are focused on promoting the product.

Growth phase: This is the stage where the product gains popularity and sales increase.

Maturity phase: This is the stage where the product reaches its peak sales and begins to plateau.

Decline phase: This is the stage where the product reaches the end of its life cycle and sales begin to decline.

Retirement or discontinuation phase: This is the stage where the product is phased out of the market and production is stopped.

Each phase in the product lifecycle has its own set of tasks and activities that must be completed in order to move the product to the next phase. The PLM system tracks the item's lifecycle phase and the associated tasks and activities.

In summary, A PLM lifecycle phase, also known as a status or stage, refers to a specific point in the product lifecycle management (PLM) process where a product or component is at a certain level of development or maturity. The product lifecycle is divided into several phases, each with its own specific characteristics, requirements, and objectives, such as Concept, R&D, Industrialization, Launch, Growth, Maturity, Decline, Retirement. Each phase has its own set of tasks and activities that must be completed in order to move the product to the next phase and the PLM system tracks the item's lifecycle phase and the associated tasks and activities.

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