14 Best Product Lifecycle Management Software for 2024

Product lifecycle management (PLM) systems help businesses keep track of, manage, and shape the development of their products over time. By offering a central location for managing a product’s design, launch, and marketing from scratch to the endpoint, PLM software ensures that products are introduced to the market effectively and developed successfully.

A product management lifecycle software can streamline the product development process and improve communication and collaboration between different teams involved in a product’s lifecycle.

In addition, PLM software can provide valuable insights and data that you can use to make informed decisions about a product’s future.

If your business is not using a PLM system, now is the time to consider implementing one. A PLM system can make a big difference in the success of your product development process.

In the product lifecycle management (PLM) world, many software is available to help enterprises control and manage their product development process. 

Here, we will look at a few of the best PLM software currently on the market and see what makes them stand out from the rest.

What Is the Criteria for Selecting PLM Software?

Efficiency, Dependability, and Security: 

Efficiency is important because you want your PLM software to handle a large volume of data and transactions quickly and smoothly. 

Dependability is crucial since you need to be confident enough to trust your PLM software to protect your data. Safety is essential since you need to prevent unlawful access to your data.

Management of the Product Lifecycle in a Closed Loop:

PLM needs for businesses are extensive and cross several divisions with varying levels of intricacy. Finding a vendor that offers end-to-end capabilities across the enterprise is feasible rather than looking for many point solution providers to support design, manufacturing, services, and other enterprise teams. It includes foundational PLM capabilities and more advanced virtual and augmented reality features.

Short Time to Value:

With the market moving quickly, you want to avoid being bogged down by a lengthy implementation process. Look for a cloud-based PLM solution that comes pre-packaged and pre-configured for fast deployment.

When software can be implemented quickly and deliver tangible benefits rapidly, it is said to have a short time to value. This criterion is essential for PLM software selection, as it can make a big difference in the overall success of a PLM initiative. 

Pricing Flexibility:

With PLM in the cloud, customers assume an operating expense model where capital expenses get eliminated, and the vendor retains the responsibility for all system updates and upgrades. Meanwhile, subscription pricing gives organizations the flexibility to dynamically and inexpensively support cyclical needs. Active user pricing is also an attractive feature, where you pay only for users actively using the system.

Ease of Implementation and Use: 

Implementing a new product lifecycle management software can be a daunting task. To ease the transition, look for PLM software that is easy to implement and use. A cloud-based solution is often the easiest to implement, as installing and configuring hardware and software is no longer necessary. And, because users can access the system from anywhere, it’s easy for them to get up and dash.

Key Features in Product Lifecycle Management (PLM) Software

Here are some key features to keep in mind:

Product data management (PDM)

This is one of the essential features of product lifecycle management software. It helps to manage all the product data and documents in a centralized repository. It makes it easy to track and manage the product development process.

Change management

This is essential for product development. It helps to track and manage changes to the product data and documents. It ensures that all changes get appropriately documented and approved.

Configuration management

This feature helps manage the product’s configurations. It includes managing the different versions of the product, options, and accessories.

Collaboration

This is an essential feature of team collaboration. The product lifecycle management software should provide tools for team collaboration, such as document management, discussion forums, and project management.

Reporting

This is a crucial feature for tracking product development. Product lifecycle management software should provide tools for generating reports, such as project reports, product reports, and marketing reports.

10 Best Product Lifecycle Management (PLM) Software

Explore our top 10 top Product Lifecycle Management (PLM) Software out of the 14 discussed in this article:

1. Chisel
2. Autodesk Fusion 360 Manage
3. Oracle Agile PLM
4. Propel
5. Aras PLM
6. Upchain
7. Siemens Teamcenter
8. Arena
9. Windchill
10. Bamboo Rose

1. Chisel

Chisel is a platform that makes it simple to prioritize your product features, gather consumer feedback, and generate roadmaps all at once. Chisel’s integrated analytics also allows you to construct user personas and customer journey maps. 

Chisel is the first product roadmap application created with feedback from actual PMs. For the contemporary product manager or marketer, it offers crucial aspects. Let us look at a few essential features.

Chisel Key Features:

Roadmap Pillar:

Creating a smooth and efficient workflow is essential to successful product development. However, it can be challenging to manage resources and allocate tasks effectively. Chisel’s Roadmaps pillar provides tools to help you plan the future of your product and make the most efficient use of your resources. With these tools, you can streamline your workflow and ensure that your product development process is as smooth and efficient as possible.

Team Radar Pillar: 

The ability to manage teams inside and outside your organization is now a breeze, thanks to Chisel’s Team Radar pillar. 

Offering four separate, linked views, it’s a powerful tool for rating and comprehending your product. Plus, it gives your team a voice, and everyone is working towards the same goal. Ultimately, this can lead to a more successful product.

User Research Pillar:

You can gather customer feedback and generate customer journey maps, owing to Chisel’s User Research Pillar.

As a product development team, you often need feedback from users to help improve our product. Chisel’s User Research Pillar is a great tool to help you gather this feedback quickly and efficiently. With Chisel, you can design surveys and target specific markets for feedback. It helps us ensure your product is as good as possible.

Integrated analytics:

If you want to realize the full potential of Chisel, it’s crucial to integrate it into your workflow seamlessly. Fortunately, Chisel has connections with several well-known platforms, including Jira, Azure DevOps, Slack, Salesforce, Hubspot, and more. These integration capabilities will speed up the process and let you concentrate on creating fantastic solutions.

If you’re looking for PLM software that can help you streamline your product development process, Chisel is worth checking out.

Chisel Pricing:

Free forever version is available.

Premium Plan: $49 per month if billed annually.

Enterprise Plan: $99 per month if billed annually. 

2. Autodesk Fusion 360 Manage

Autodesk Fusion 360 Manage is a PLM software that helps manage product development and keep work on schedule. With its assistance, you can define and automate processes, manage bills of materials, manage changes, manage quality, collaborate with suppliers, and manage product data. New products can quickly get introduced and managed, making it a valuable tool for anyone involved in product development.

Autodesk Fusion 360 Manage Key Features:

• Fusion 360 Manage is an instant-on PLM that is free to use and includes dozens of specialized procedures and fundamental PLM tools.
• It offers pre-built workflows that you can easily customize for your needs and an open API that allows further customization.

• It is perfect for businesses that want to launch today and grow tomorrow.
• The software is accessible from any device, anywhere, and is configurable to your specific needs.
• Centrally manage and distribute structured BOMs across the organization with Fusion 360 Manage.
• This product lifecycle management software streamlines product development processes by providing templates for new projects and standardized deliverables, milestones, and tasks. 

• Fusion 360 Manage also provides change administration capabilities to make submitting, monitoring and approving changes easier.

Autodesk Fusion 360 Manage Pricing:

Monthly Plan: $70 paid monthly

Yearly Plan: $545 paid annually

3-Year Plan: $1550 paid every 3 years

3. Oracle Agile PLM

As defined by Oracle, an enterprise product lifecycle management software is a strategy for managing a product’s lifecycle across its whole value chain. It includes initial requirements gathering, design, prototyping, getting certification, production, customization, servicing, and retirement. 

Oracle Agile PLM Key Features:

• Oracle’s Agile PLM aims to help you rapidly create products, improve process proficiency, and reduce risk.
• The product lifecycle management software emphasizes economic effectiveness and closed-loop quality control, making it more than a technological fix.

• With its user-friendly UI and unified view of items across various business functions, Oracle’s Agile PLM can help you implement an integrated product lifecycle management strategy.
• Oracle Agile PLM is a comprehensive PLM solution that can get tailored to meet your specific needs.
• The Assist+ add-on provides insightful recommendations to help you have a tremendous Agile PLM experience.

• The ECO Dashboard add-on allows you to manage change orders from a single view.
• The UDI solution significantly impacts the degree of production.
• The xReport add-on enables you to create reports using data from Agile PLM and other sources without coding.

Oracle Agile PLM Pricing:

Need to contact their sales team. 

4. Propel

If you’re looking for a cloud-native product platform to help you create high-quality data databases and use productivity tools, then you should check out Propel. With their handy mobile app, you can even access Propel from your phone, making it super convenient. Plus, Propel can help you gather information to optimize the introduction of new products. 

Propel Key Features:

• Propel is a single solution for Product Lifecycle Management (PLM), Quality Management (QMS), and Product Information Management (PIM). It enables businesses to successfully develop winning products, market them, and swiftly address quality issues.
• Propel’s product and customer records are naturally related because they get built on the Salesforce platform.
• Using engineering change management, sharing, approving, and redlining product updates are possible.

• This product lifecycle management software offers Gantt charts or Kanban task boards for project management to keep track of all activities, deliverables, milestones, tasks, and projects.

• The manufacturer can adjust production and inventory based on the updated Approved Lists or AMLs and distributor allocations.
• To address quality and compliance issues in the field, use quality management (QMS) to establish a fully closed loop.

Propel Pricing:

Need to contact sales for customized plans.

5. Aras PLM

Aras Innovator is a next-generation product lifecycle management software. It helps businesses manage product development, multi-site production, supply chain operations, and quality compliance. For managing escalating product complexity and swiftly evolving processes, Aras offers a new value proposition to businesses of all sizes.

Aras PLM Key Features:

• Aras PLM software enables collaboration between mechanical, electrical, and software disciplines and the supply chain.
• Organizations can create standardized, repeatable procedures that span the product lifecycle.

• Due to Aras’ high adaptability, businesses can modify processes to meet their unique needs.
• Prosper with this PLM software, which enables cross-disciplinary product cooperation and the creation of standardized business procedures.
• Users have access to the most accurate and up-to-date product data.

• The product lifecycle management software provides enterprise access and consistency in a setting where agility and unrestricted collaboration are required.
• Aras’ core function is the management of requests for changes to products or systems, as well as assessments, plans, and orders – with complete visibility into the effects on other system components.
• Version and change control for files in various formats are included in a secure, searchable repository when using Aras.

Aras PLM Pricing:

You need to reach out to their sales team for a customized plan.

6. Upchain

Upchain is the perfect solution for modern manufacturing. With Upchain’s real-time collaboration features, users can work together to keep projects moving forward without interruption. Upchain’s cloud PLM software solution allows users to securely cooperate globally, making it the perfect solution for today’s manufacturing needs.

Upchain Key Features:

• Upchain is a cloud-based product that offers a single source of truth for documentation and communication.
• It is perfect for small and medium enterprises looking for an affordable and open PIM solution.

• This product lifecycle management software offers BOM management, API connectors, CAD and Microsoft Office plugins, and ECR creation and maintenance.
• Upchain streamlines repetitious operations and processes thanks to general workflow design and creation tools.
• You can track your team member performance levels and summarise them in dashboard reports for a perceptually accurate assessment of project status.
• Upchain’s integration plugins for Microsoft Office tools give all team members and stakeholders the freedom to work within their preferred business applications.

Upchain Pricing:

You need to contact them for pricing information. They offer three different plans.

7. Siemens Teamcenter

Looking to increase profitability and optimize operations? Siemens Teamcenter PLM is your solution. This cloud-based product lifecycle management tool is innovative and easy to use, giving you complete control over your production procedures and product information. You can simplify your workflows and boost your profit margins with Teamcenter.

Siemens Teamcenter Key Features:

• Teamcenter is among the best on the market due to its ability to see 3D models without integrations, access CAD history and revisions, and make them simple to import and export.

• The solution suits various industries, including marine, consumer goods, retail, consumer electronics, energy, utilities, defense, aerospace, automotive, and transportation.
• This product lifecycle management software offers cost management, product configuration, lifecycle management, model-based systems engineering, and material data, among other features.

• Product configuration inside PLM can help meet customer demand for more sophisticated and varied product offerings without increasing costs.
• Siemens Teamcenter Integrated Material Management manages material data throughout your company with a simple, web-based solution.
• Siemens Teamcenter helps shorten cycle times and boosts product quality by automating engineering modification, validation, and approval procedures.
• Siemens Teamcenter integrates into PLM strategy to succeed in the modern market.

Siemens Teamcenter Pricing:

You need to contact the sales team.

8. Arena

Are you looking for a simple, straightforward, cloud-based software solution that provides a single product design and development platform? Look no further than Arena PLM. Arena PLM unifies product information, people, and processes to help you accelerate your product development cycle. With Arena PLM, you can access your product information anywhere, anytime. Arena PLM aims to work with your existing systems and tools so that you can get started quickly and easily.

Arena Key Features:

• Arena PLM is an all-inclusive product development platform that integrates people, processes, data, and business systems.

• It is an integrated platform that simplifies change management and bills of materials. 
• Arena PLM integrates people, processes, data, and business systems, making product development more straightforward and efficient.

• This product lifecycle management software makes managing products more accessible by providing a single product record that collects data sheets and other information.
• Arena PLM removes infrastructure hurdles to information collaboration, idea sharing, and change implementation throughout the product lifecycle.
• It enables businesses to establish distinctive item records using customized part numbering categories and schemes.

Arena Pricing:

Not available, you need to contact their team.

9. Windchill

With a single source of truth for product data and processes, PTC’s Windchill PLM software suite is a potent arsenal. It ensures product data management, product analytics, and product quality throughout the product lifecycle. By quickly and easily integrating new organizational systems into its open architecture, Windchill has helped establish the PLM software market.

Windchill Key Features:

• Windchill enables teams to work cooperatively on multi-CAD and product data inside and outside the company.
• The PLM software’s consolidation of product data management in one location makes it simple to integrate with other enterprise technologies.
• The open architecture of Windchill makes it easy to extend and customize to meet specific needs.
• It serves as a strong foundation for a product-driven digital thread.
• Windchill helps to keep the entire product data organized and easy to navigate, which is essential for businesses that rely on accurate product information.
• This product lifecycle management software connects BOM components to other product data, such as CAD drawings and paperwork, making it easy to find and update information.

Windchill Pricing:

Need to contact sales.

10. Bamboo Rose

Bamboo Rose is the leading multi-enterprise platform for goods and supply chains. It connects retailers, brands, suppliers, and their supply chain partners to market unique products more quickly, profitably, and with greater margins.

Bamboo Rose Key Features:

• Bamboo Rose is an essential tool for business owners in the apparel, food, and merchandising industries.
• Retailers can use Bamboo Rose to design digital showrooms and gather orders from suppliers.
• Managers can use Bamboo Rose to submit and share designs, communicate with team members, and ensure color consistency and product quality.
• Staff members automatically get notified of changes to delivery dates and destinations.
• Bamboo Rose digital sourcing module enables manufacturers and merchants to source goods from various sources.
• Administrators can control currency conversions and payment-related procedures with Bamboo Rose.

• This product lifecycle management software offers users a variety of features for handling sales and purchases, as well as for connecting with ERP systems.

Bamboo Rose Pricing:

You need to contact their sales to know about their pricing plans.

Other PLM Software 

11. OpenBOM

OpenBOM is a digital network-based PLM technology that connects manufacturers and supply chain networks while managing product data. OpenBOM controls Parts (Items), CAD files, Item Masters (Catalogs), Documents, Bill of Materials, Vendors, Production Planning, and Purchase Orders. OpenBOM integrates the many data silos in your company (such as CAD, Bills of Material, POs, ERP/PLM, and others) into a single, manageable connected process.

12. Enovia

From product development to point-of-sale, Enovia PLM is the platform to provide wonderful user experiences for your staff and customers. Enovia decreases reworks and development costs while enhancing collaboration and product quality. 

13. FusePLM

If your engineering organization is looking for ways to streamline components, bill-of-materials, documentation, and change management processes, consider using a cloud-based PLM software like FusePLM. 

With its user-friendly interface, configurable Kanban workflows, and AI-enabled chatbot PLMBot, FusePLM can help you market your products faster, with less complexity and cost.

14. SAP PLM

SAP PLM’s portfolio supports product lifecycle experience, project management, and product lifecycle costing solutions. While managing whole project lifecycles in one location, users obtain complete information regarding teams, prices, and new product improvements. Traceability, planning, estimate, accounting, and closure of portfolios are further tasks that users can perform.

3 Editor’s Recommended Product Lifecycle Management (PLM) Software:

Chisel

With the use of Chisel, businesses maintain track of every step of the product development process. Chisel helps ensure that products are developed efficiently and meet all customer requirements.

Additionally, Chisel helps shorten product development timelines by giving users real-time visibility into the product development process. This attribute allows organizations to make necessary changes and adjustments to the process to meet their deadlines. 

Oracle Agile PLM

Oracle Agile PLM provides secure access to preliminary information and releases on products, parts, or documents. It also offers excellent visibility about pending and released changes and articles affected by them.

In addition, Oracle Agile PLM establishes automated and simplified modification management processes with intelligent workflows. This way, you can drive efficient product management across the global and multilevel supply chain. Moreover, Oracle Agile PLM creates an environment for managing and controlling producers and their products. 

Aras PLM

The Aras PLM platform can get easily extended and customized to fit the specific needs of your business. This flexibility allows you to scale your product lifecycle management software as your business grows and changes.

Aras PLM includes all the features you need to manage your product lifecycle, from product development to quality compliance. With Aras, you can streamline your processes and keep your product data organized and accessible in one central location.

Conclusion

There is a never-ending debate on which is the best PLM software. However, the answer to this question highly depends on your organization’s specific needs. After carefully evaluating various options, we have compiled a list of the best product lifecycle management software currently available in the market.

Let us know which PLM software you would pick.