Product lifecycle management (PLM) is the process of managing the entire lifecycle of a product from its conception, through design and manufacture, to service and disposal.  PLM integrates people, data, processes and business systems and provides a product information backbone for companies and their extended enterprise.
Product information management (PIM) or PIM refers to processes and technologies focused on centrally managing information about products, with a focus on the data required to market and sell the products through one or more distribution channels. A central set of product data can be used to feed consistent, accurate and up-to-date information to multiple output media such as web sites, print catalogs, ERP systems, and electronic data feeds to trading partners. PIM systems generally need to support multiple geographic locations, multi-lingual data, and maintenance and modification of product information within a centralized catalog to provide consistently accurate information to multiple channels in a cost-effective manner.
Even difference is clear, it looks like combination of PIM and PLM efforts can bring significant benefits to the company to streamline information management around a product.
Just my opinion. What do you think about it?