PLM (Product Lifecycle Management) is a system managing product data from concept to retirement. It stores CAD designs, specifications, bills of materials (BOM), process instructions, supplier info, and quality records. Everyone (design, manufacturing, supply chain, service) accesses the same data—one source of truth. Workflow: Engineer designs product in CAD. PLM captures design, extracts BOM (list of parts). Supply chain buys parts. Manufacturing reads PLM for assembly instructions (which tool, which torque). Product ships. Service team accesses CAD and service bulletins for repairs. If design changes, PLM version updates, all downstream processes see change.