Product Portfolio Management : defining the range of products that best fulfil the market requirements as well as the company’s own business targets
Ideation and Concept Development : idea generation, enrichment and selection.
Product Requirements Management : management of product requirements. The starting point for Product Development
Product Development : formulation development, lab and production testing following a stage gate process
Collaborative Design : process of including input from product development (internal and external) into design development and change managemen
Collaborative Material Sourcing: process of managing supplier selection and definition in order to derive maximum service and value from partnering relationships.
Project Management: process of making sure everyone is operating on the same set of tasks and issues, working toward a common, product related goal
Product Data Management: process of managing all product related throughout a product’s lifecycle and providing the right people with the right information at the right time.
Product Lifecycle Management aims to realize all synergies between these business processes in the product value chain, starting from product idea and product planning via product design, development and production until service and phase out of a product.