PLM is a management strategy adopted by a company to control its collection from the point of conception to the point of sale. In a simpler way product-life-cycle (PLC) concept is linked with variations over time in the volume of sales or profit earned for a specific product category, form or brand. During this period significant cohesive marketing strategies are developed and adopted to increase the profit of company in terms of market and customer share. Companies either make strategic plans or follow the basic rules of the different life cycle phases that can be analyzed later. Further a clear cut understanding and analysis of PLC is very important. Any wrong strategy may lead to a failure of complete process planning of the products. This concept becomes even more important for "Fashion Apparels and Accessories" which have continuous change and aesthetic as the inherent characteristics. Keeping in view many software companies have introduced programme packages for fashion products managements, which are implemented by many garment manufacturers.
Product life management (PLM), Strategies, Fashion & Apparel Products, PLM Softwares
Introduction to PLC (Product life Cycle)
Product can be defined as "any offering that is capable of satisfying customer needs". This definition includes the both physical products e.g soaps, cars, cosmetics as well as services e.g. dry cleaning, life insurance etc. The various stages which individual product develops with the passage of time is generally known as Product life cycle.
Originally Published in Journal of the Textile Association, July-August 2011
The authors of the article are associated with The Technological Institute of Textile & Sciences, Bhiwani