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Figure 1-7: Inventory and warehouse management processes

LIFECYCLE DATA MANAGEMENT—DESIGN
A successful organization must constantly improve its products and create new
and innovative products that refl ect changes in customer tastes and preferences.
Lifecycle data management provides a set of tools to manage product design and
improvement throughout the lifecycle of a product. The product lifecycle begins
with idea or concept development; progresses through production, marketing,
and service; and concludes when the product is discontinued from the market.
It can range from a few months for fad items to many years or even decades for
products such as automobiles and bicycles. Products in the latter category typi-
cally undergo small but continual improvements over the course of their lifecycle.
Lifecycle data management enables an organization to optimize its prod-
uct development process, from design to market, while ensuring that it complies
with industry, quality, and regulatory standards. At the same time, it provides
users—that is, the organization’s employees—with access to product data at any
point in the product’s lifecycle. This capability, in turn, enables the organization
to react more quickly to take advantage of market and competitive opportunities.

ASSET MANAGEMENT AND CUSTOMER SERVICE—SERVICE
Asset management is concerned with both the preventive and corrective main-
tenance of an organization’s equipment. Preventive maintenance is performed
periodically—for example, the routine maintenance of a machine in a factory.

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