How To Define PLM?

What is the proper definition of PLM? This is a simple and complex question at the same time… Recently, I had a chance to see few interesting definitions of PLM.

One is very long and comprehensive came from Siemens PLM website and contains lots of examples and even point on PLM’s future.

Product Lifecycle Management (PLM) software allows companies to manage the entire lifecycle of a product efficiently and cost-effectively, from ideation, design and manufacture, through service and disposal. Computer-Aided Design (CAD), Computer-Aided Manufacturing (CAM), Computer-Aided Engineering (CAE), Product Data Management (PDM) and Manufacturing Process Management (MPM) converge through PLM.

Another definition is coming from Al Dean of Develop3D:

Actually, Al’s version is a very simple one (thanks Deelip brining this version out):

PLM is easy to define. It’s 3 things. A product. Its lifecycle. And Managing it. It doesn’t need anymore fucking definition.

Now, I need to think about my version..

Best, Oleg