Meaning of “product life cycle management” in the English Dictionary

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"product life cycle management" in Business English

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product life cycle managementnoun [ U ]

uk us also PLM MARKETING, COMMERCE

decisions that are made about a product's appearance, price, advertising, etc. to suit each stage in the product life cycle:

Toyota is one of many companies that have embraced product life cycle management as a way to manage a product from the beginning to the end of its life.

(Definition of “product life cycle management” from the Cambridge Business English Dictionary © Cambridge University Press)