PLM is a strategic business approach that applies a consistent set of business solutions in support of the collaborative creation, management, dissemination, and use of product definition information across the extended enterprise, and spanning from product concept to end of life-integrating people, processes, business systems, and information. PLM forms the product information backbone for a company and its extended enterprise." 

The core of PLM (product life cycle management) is in the creations and central management of all product data and the technology used to access this information and knowledge. PLM as a discipline emerged from tools such as CAD, CAM and PDM, but can be viewed as the integration of these tools with methods, people and the processes through all stages of a pro duct's life.

"It is important to note that PLM is not a definition of a piece, or pieces, of technology. It is a definition of a business approach to solving the problem of managing the complete set of product definition information-creating that information, managing it through its life, and disseminating and using it throughout the lifecycle of the product. PLM is not just a technology, but is an approach in which processes are as important, or more important than data."