Product Life Cycle Management and Its Influence on Food Product Development

Year : 2024 | Volume : 13 | Issue : 02 | Page : 24 31
    By

    Divyanshi Tiwari,

  • Suvarsha Raj,

  • Neelesh Kumar Maurya *,

Abstract

This article examines the significance of product life cycle management (PLM) in the food industry, with a particular focus on how it affects the development of new products (NPD). This review addresses the intricacies and difficulties that food companies have in the current cutthroat industry, emphasizing the necessity of an organized approach to NPD to preserve market relevance and competitive advantage. Reviews describe the introduction, growth, maturity, and decline phases of a product’s life cycle as well as the tactics needed at each to maximize the product’s longevity and profitability. To improve product development outcomes, the evaluation emphasizes the significance of innovation, cutting cycle time, and utilizing corporate knowledge assets. This assessment also looks at how PLM, an information-driven, integrated strategy, has expanded beyond engineering to cover the whole product life cycle, helping companies manage their intellectual property and maintain a competitive edge. This thorough investigation offers insights into the ways in which PLM technologies can be applied successfully in the food industry to manage regulatory issues, promote innovation, improve product differentiation, and boost market performance.

Keywords: Product development, product life cycle (PLC), new product development (NDP), competitive analysis

[This article belongs to Research & Reviews : Journal of Crop science and Technology ]

How to cite this article:
Divyanshi Tiwari, Suvarsha Raj, Neelesh Kumar Maurya *. Product Life Cycle Management and Its Influence on Food Product Development. Research & Reviews : Journal of Crop science and Technology. 2024; 13(02):24-31.
How to cite this URL:
Divyanshi Tiwari, Suvarsha Raj, Neelesh Kumar Maurya *. Product Life Cycle Management and Its Influence on Food Product Development. Research & Reviews : Journal of Crop science and Technology. 2024; 13(02):24-31. Available from: https://journals.stmjournals.com/rrjocst/article=2024/view=195262


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Regular Issue Subscription Article
Volume 13
Issue 02
Received 28/08/2024
Accepted 30/08/2024
Published 30/08/2024
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