Product Lifecycle Management (PLM)

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The design and management of the form, function, use, and post-consumer life of a product. In the ESG context, PLM may include:

  1. ethically and cost-effectively sourcing the materials that compose a product
  2. reducing energy expenditure and pre-consumer waste in the manufacturing and distribution of the product
  3. designing the product to be minimally energy-intensive in its intended use by the end consumer and
  4. maximising the longevity and potential for recycling and repurposing components in the product’s post-consumer life.

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Product lifecycle management (PLM) definition