What is PLM?
Product Development Lifecycle (PDLC) is a process used by organizations to develop, design, and bring new products to the market. The PDLC process consists of several stages, each with its own set of activities, deliverables, and objectives. The stages typically include:
- Idea Generation: This stage involves brainstorming and gathering ideas for potential new products.
- Concept Development: In this stage, the organization evaluates the potential ideas and selects the most promising ones for further development.
- Design and Development: This stage involves creating the product design and developing prototypes to test and refine the product.
- Testing and Validation: In this stage, the organization tests the product to ensure that it meets quality and performance standards.
- Launch: This stage involves introducing the product to the market and promoting it to customers.
- Post-launch: This stage involves monitoring the product's performance, gathering customer feedback, and making improvements as necessary.
The PDLC process is a structured, iterative approach to developing new products, helping organizations to reduce costs, improve efficiency, and increase the likelihood of success in the marketplace.Request an Online Demo