Product Lifecycle Management (PLM) is the process of managing a product throughout its lifespan, from concept to manufacturing to disposal. Using PLM or MRP software to manage their products could bring manufacturers benefits ranging from better collaboration to optimized production processes and higher product quality.
Supply chain management encompasses everything from negotiating vendor contracts for raw materials to handling returns of a product. While it is a central concept for any company producing or selling physical goods or even services, this post focuses on the importance and best practices of SCM from the perspective of small and medium manufacturers.
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