Enterprise resource planning (ERP software has dominated the business world for a long time now. Wait.. Do we mean it is the end of it? That would be ridiculous. However, Product Lifecycle Management (PLM) is a modern business system that has emerged to give ERP a tough competition.
Essentially, ERP and PLM are like the muscles and bones of your business system. They have their own individual strengths, which, when combined together, optimize each other. As a result, the PLM and ERP integration results in a robust and efficient platform that elevates the entire supply chain of your business.
What is Product Lifecycle Management (PLM)?
Product lifecycle management (PLM) is a process that manages a complex product development across all stages from ideation, designing, manufacturing, maintenance, to disposal. It is a software solution that integrates data, workflows, business systems, and people in a value chain to manage the entire lifecycle of a product efficiently and cost-effectively.
What is Enterprise Resource Planning (ERP)?
On the other hand, the ERP business system collaborates all the core processes of a company, such as HR, finance, procurement, manufacturing, services, supply chain, logistics, shipping into one system. However, modern ERP systems have evolved beyond the basics to offer efficiency, visibility, and intelligence across all your business aspects.
To better understand the value you can gain out of PLM and ERP integration, you first need to learn what benefits these two systems have to offer individually.
Check out the PLM vs. ERP infographic to learn more.